Sumitomo Mitsui DS Asset Management Company Ltd Purchases 118 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 9,601 shares of the financial services provider’s stock after purchasing an additional 118 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Ameriprise Financial were worth $3,647,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in AMP. Venture Visionary Partners LLC increased its position in Ameriprise Financial by 2.9% in the 4th quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock worth $5,650,000 after buying an additional 416 shares during the period. 17 Capital Partners LLC bought a new position in Ameriprise Financial during the fourth quarter worth $2,078,000. Cerity Partners LLC raised its stake in Ameriprise Financial by 280.6% during the 4th quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock valued at $11,585,000 after purchasing an additional 22,487 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Ameriprise Financial in the 3rd quarter valued at $1,150,000. Finally, Harbor Investment Advisory LLC grew its position in Ameriprise Financial by 75.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 335 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMP shares. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group upped their price target on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Piper Sandler upped their target price on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. Finally, Morgan Stanley lifted their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $441.00.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the completion of the sale, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $4,832,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William F. Truscott sold 9,689 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the transaction, the chief executive officer now directly owns 12,126 shares in the company, valued at $4,731,807.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the completion of the sale, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $4,832,500. The disclosure for this sale can be found here. Insiders have sold 89,161 shares of company stock valued at $35,560,647 in the last three months. 0.96% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $421.33 on Tuesday. The stock has a market capitalization of $42.21 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 0.69 and a beta of 1.36. The business’s fifty day moving average price is $417.37 and its two-hundred day moving average price is $379.18. Ameriprise Financial, Inc. has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.14 by $0.25. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $7.25 EPS. As a group, analysts predict that Ameriprise Financial, Inc. will post 34.43 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is 22.78%.

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.