Groupe la Francaise Buys 1,941 Shares of Ameriprise Financial, Inc. $AMP

Groupe la Francaise lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,834 shares of the financial services provider’s stock after acquiring an additional 1,941 shares during the period. Groupe la Francaise’s holdings in Ameriprise Financial were worth $7,899,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Forum Financial Management LP increased its position in shares of Ameriprise Financial by 1.4% during the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider’s stock worth $790,000 after acquiring an additional 21 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of Ameriprise Financial by 1.6% during the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 21 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Ameriprise Financial by 3.0% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 21 shares in the last quarter. Argent Trust Co increased its position in shares of Ameriprise Financial by 1.3% during the first quarter. Argent Trust Co now owns 1,698 shares of the financial services provider’s stock worth $822,000 after acquiring an additional 21 shares in the last quarter. Finally, Ritholtz Wealth Management increased its position in shares of Ameriprise Financial by 1.3% during the first quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider’s stock worth $852,000 after acquiring an additional 22 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMP. Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Piper Sandler raised their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Raymond James Financial raised their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada raised their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $534.71.

Ameriprise Financial Stock Performance

Shares of AMP opened at $515.8540 on Friday. The firm has a 50-day moving average of $521.12 and a 200-day moving average of $506.26. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The company has a market cap of $48.63 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.07 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the firm posted $8.72 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 19.91%.

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.