Barclays PLC Acquires 38,380 Shares of Ameriprise Financial, Inc. $AMP

Barclays PLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 367,799 shares of the financial services provider’s stock after purchasing an additional 38,380 shares during the period. Barclays PLC owned 0.40% of Ameriprise Financial worth $180,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. Brighton Jones LLC boosted its holdings in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares in the last quarter. Empowered Funds LLC grew its stake in Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after acquiring an additional 634 shares during the period. Sivia Capital Partners LLC grew its stake in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 72 shares during the period. Schnieders Capital Management LLC. acquired a new stake in Ameriprise Financial in the second quarter valued at approximately $313,000. Finally, Gabelli Funds LLC grew its stake in Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock valued at $2,253,000 after acquiring an additional 2,922 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $458.54 on Monday. The business’s fifty day simple moving average is $457.02 and its 200 day simple moving average is $472.92. The firm has a market capitalization of $41.22 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.16. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month 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.

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

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio is 16.91%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities research analysts have commented on AMP shares. Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Piper Sandler raised their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Morgan Stanley raised their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. BMO Capital Markets raised their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Profile

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.