TigerOak Management L.L.C. Invests $883,000 in Ameriprise Financial, Inc. (NYSE:AMP)

TigerOak Management L.L.C. bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,658 shares of the financial services provider’s stock, valued at approximately $883,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Manchester Capital Management LLC lifted its holdings in shares of Ameriprise Financial by 1.3% during the fourth quarter. Manchester Capital Management LLC now owns 3,992 shares of the financial services provider’s stock worth $2,126,000 after buying an additional 50 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in Ameriprise Financial by 3.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 5,606 shares of the financial services provider’s stock valued at $2,985,000 after purchasing an additional 199 shares in the last quarter. Quadrant Private Wealth Management LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at about $227,000. AustralianSuper Pty Ltd raised its stake in Ameriprise Financial by 41.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 256,309 shares of the financial services provider’s stock valued at $136,467,000 after purchasing an additional 74,705 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in Ameriprise Financial by 4.8% in the fourth quarter. V Square Quantitative Management LLC now owns 2,276 shares of the financial services provider’s stock valued at $1,212,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the firm’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 directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Trading Up 1.3 %

NYSE AMP opened at $546.69 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a market cap of $53.03 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The business’s fifty day moving average is $541.20 and its 200 day moving average is $505.21.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Wall Street Analyst Weigh In

AMP has been the subject of a number of analyst reports. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $510.44.

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.