Eurizon Capital SGR S.p.A. Takes Position in Ameriprise Financial, Inc. $AMP

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, Holdings Channel.com reports. The fund acquired 31,446 shares of the financial services provider’s stock, valued at approximately $15,426,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Holos Integrated Wealth LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at $30,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $32,000. Ares Financial Consulting LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at $32,000. WFA of San Diego LLC acquired a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $36,000. Finally, Activest Wealth Management lifted its position in shares of Ameriprise Financial by 777.8% during the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Up 0.1%

NYSE AMP opened at $445.94 on Monday. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $40.09 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.05 and a beta of 1.16. The firm’s fifty day simple moving average is $455.29 and its 200-day simple moving average is $473.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the business posted $9.50 earnings per share. Ameriprise Financial’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Morgan Stanley increased their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. BMO Capital Markets increased their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Piper Sandler increased their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Weiss Ratings downgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $543.22.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.