10,411 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co bought a new stake in 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 10,411 shares of the financial services provider’s stock, valued at approximately $5,543,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after acquiring an additional 358,699 shares during the period. Geode Capital Management LLC boosted its position in Ameriprise Financial by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after purchasing an additional 31,158 shares in the last quarter. Amundi boosted its position in Ameriprise Financial by 48.0% during the fourth 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. Charles Schwab Investment Management Inc. increased its position in shares of Ameriprise Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock valued at $320,692,000 after buying an additional 5,048 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased 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 buying an additional 338,298 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $499.19 on Friday. The business’s 50-day moving average price is $525.95 and its 200 day moving average price is $522.12. 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 twelve month low of $385.74 and a twelve month high of $582.05. The company has a market capitalization of $47.98 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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%. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the subject of several recent research reports. Keefe, Bruyette & Woods raised their target price 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 increased their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Morgan Stanley increased their price objective 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. Finally, UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One investment 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.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $514.89.

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.