DnB Asset Management AS Purchases 781 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

DnB Asset Management AS grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,687 shares of the financial services provider’s stock after purchasing an additional 781 shares during the quarter. DnB Asset Management AS’s holdings in Ameriprise Financial were worth $9,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Ameriprise Financial during the fourth quarter valued at about $689,272,000. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock worth $2,556,683,000 after acquiring an additional 516,437 shares during the period. Proficio Capital Partners LLC grew its position in shares of Ameriprise Financial by 79,679.4% during the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after purchasing an additional 371,306 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after purchasing an additional 338,298 shares during the period. Finally, Amundi lifted its holdings in Ameriprise Financial by 48.0% in the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock worth $343,546,000 after purchasing an additional 208,195 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMP shares. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Piper Sandler lifted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Finally, Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $514.89.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.96% of the stock is currently owned by insiders.

Ameriprise Financial Trading Down 3.4 %

AMP opened at $481.64 on Friday. The stock has a 50-day moving average of $524.55 and a 200 day moving average of $523.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The firm has a market cap of $46.29 billion, a P/E ratio of 14.57, a P/E/G ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.23%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.