Siemens Fonds Invest GmbH Sells 945 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Siemens Fonds Invest GmbH lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 30.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,190 shares of the financial services provider’s stock after selling 945 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Ameriprise Financial were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AMP. TCTC Holdings LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the fourth quarter valued at $30,000. Finally, Sound Income Strategies LLC bought a new position in Ameriprise Financial during the 4th quarter worth $36,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Piper Sandler upped their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price for the company in a research report on Monday, April 7th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley boosted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $517.13.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $524.06 on Friday. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The firm has a market capitalization of $49.90 billion, a P/E ratio of 15.85, a P/E/G ratio of 1.15 and a beta of 1.28. The firm’s 50-day moving average price is $479.32 and its 200-day moving average price is $520.15. 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 (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating analysts’ consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same quarter in the previous year, the business posted $8.39 EPS. Ameriprise Financial’s quarterly revenue was up 3.6% on a year-over-year basis. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Monday, May 5th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a dividend yield of 1.22%. Ameriprise Financial’s dividend payout ratio is 21.75%.

Ameriprise Financial announced that its board has initiated a share repurchase program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This represents a 39.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.73% of the company’s stock.

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.