Ameriprise Financial, Inc. $AMP Shares Bought by LSV Asset Management

LSV Asset Management grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.3% during the 4th quarter, HoldingsChannel reports. The firm owned 272,018 shares of the financial services provider’s stock after buying an additional 3,548 shares during the period. LSV Asset Management’s holdings in Ameriprise Financial were worth $133,381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Evoke Wealth LLC boosted its stake in Ameriprise Financial by 56.0% during the 4th quarter. Evoke Wealth LLC now owns 1,070 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 384 shares during the last quarter. Ignite Planners LLC boosted its stake in Ameriprise Financial by 7.3% during the 4th quarter. Ignite Planners LLC now owns 1,083 shares of the financial services provider’s stock worth $571,000 after purchasing an additional 74 shares during the last quarter. FourThought Financial Partners LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth $324,000. Global Retirement Partners LLC boosted its stake in Ameriprise Financial by 14.5% during the 4th quarter. Global Retirement Partners LLC now owns 4,459 shares of the financial services provider’s stock worth $2,186,000 after purchasing an additional 564 shares during the last quarter. Finally, MJP Associates Inc. ADV boosted its stake in Ameriprise Financial by 22.2% during the 4th quarter. MJP Associates Inc. ADV now owns 1,577 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 286 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the topic of several recent research reports. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group lifted their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. BMO Capital Markets boosted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $543.22.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Up 0.6%

Shares of AMP stock opened at $453.23 on Friday. The company’s 50-day moving average price is $454.35 and its 200-day moving average price is $473.27. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The stock has a market cap of $40.75 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.06 and a beta of 1.20. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. The firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.50 EPS. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.