Raymond James Financial Inc. Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Raymond James Financial Inc. purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 204,008 shares of the financial services provider’s stock, valued at approximately $108,620,000. Raymond James Financial Inc. owned about 0.21% of Ameriprise Financial as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMP. Proficio Capital Partners LLC grew its position in shares of Ameriprise Financial by 79,679.4% in the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock valued at $197,943,000 after purchasing an additional 371,306 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Ameriprise Financial by 429.0% in the fourth 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 last quarter. Assenagon Asset Management S.A. grew its position in shares of Ameriprise Financial by 816.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock valued at $116,698,000 after purchasing an additional 195,271 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Ameriprise Financial by 144.0% in the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after purchasing an additional 143,648 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 0.7 %

Shares of AMP opened at $499.28 on Friday. The stock has a market cap of $47.99 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a quick ratio of 0.59, a current 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 company has a 50-day moving average price of $536.85 and a two-hundred day moving average price of $517.62.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Company Profile

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.