APG Asset Management N.V. Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

APG Asset Management N.V. acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 53,400 shares of the financial services provider’s stock, valued at approximately $27,457,000. APG Asset Management N.V. owned 0.06% of Ameriprise Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of AMP. Advisory Services Network LLC grew its stake in Ameriprise Financial by 7.6% during the fourth quarter. Advisory Services Network LLC now owns 8,599 shares of the financial services provider’s stock worth $4,578,000 after buying an additional 608 shares during the last quarter. Applied Finance Capital Management LLC lifted its stake in Ameriprise Financial by 0.3% in the fourth quarter. Applied Finance Capital Management LLC now owns 96,348 shares of the financial services provider’s stock valued at $51,299,000 after buying an additional 281 shares in the last quarter. Polymer Capital Management US LLC bought a new position in shares of Ameriprise Financial during the fourth quarter worth about $825,000. Aster Capital Management DIFC Ltd acquired a new stake in Ameriprise Financial in the 4th quarter valued at $677,000. Finally, Federated Hermes Inc. raised its stake in shares of Ameriprise Financial by 5.7% during the 4th quarter. Federated Hermes Inc. now owns 517,669 shares of the financial services provider’s stock worth $275,616,000 after purchasing an additional 27,914 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research reports. 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 report on Tuesday, March 4th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods cut their price target on shares of Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, UBS Group downgraded 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $510.20.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 over the last three months. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Price Performance

AMP opened at $473.97 on Thursday. The firm has a 50-day moving average price of $504.01 and a 200-day moving average price of $523.06. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $45.56 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.15 and a beta of 1.23.

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

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.25%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Ameriprise Financial 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.