Geode Capital Management LLC Boosts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Geode Capital Management LLC lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,647,627 shares of the financial services provider’s stock after buying an additional 38,141 shares during the period. Geode Capital Management LLC owned approximately 2.73% of Ameriprise Financial worth $1,407,607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. HighPoint Advisor Group LLC boosted its stake in shares of Ameriprise Financial by 0.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock valued at $1,419,000 after purchasing an additional 20 shares during the period. Franklin Resources Inc. boosted its position in Ameriprise Financial by 1.5% during the 4th quarter. Franklin Resources Inc. now owns 252,213 shares of the financial services provider’s stock valued at $134,285,000 after buying an additional 3,634 shares during the period. Axiom Investors LLC DE grew its holdings in Ameriprise Financial by 11.8% in the 4th quarter. Axiom Investors LLC DE now owns 256,120 shares of the financial services provider’s stock worth $136,366,000 after acquiring an additional 27,049 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Ameriprise Financial by 19.1% in the fourth quarter. Wellington Management Group LLP now owns 1,627 shares of the financial services provider’s stock valued at $866,000 after acquiring an additional 261 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Ameriprise Financial by 3.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 27,251 shares of the financial services provider’s stock valued at $14,509,000 after acquiring an additional 989 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.9 %

Shares of Ameriprise Financial stock opened at $488.49 on Wednesday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The firm has a market cap of $46.95 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.15 and a beta of 1.33. The company has a 50-day moving average of $521.80 and a 200 day moving average of $524.35. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating 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, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler raised their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley lifted their target price on shares of 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 assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $514.89.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% of the company’s stock.

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.