Lombard Odier Asset Management Switzerland SA Purchases New Shares in Ameriprise Financial, Inc. $AMP

Lombard Odier Asset Management Switzerland SA acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,569 shares of the financial services provider’s stock, valued at approximately $697,000.

Several other large investors have also recently added to or reduced their stakes in AMP. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Ameriprise Financial by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after acquiring an additional 10,782 shares during the period. KBC Group NV raised its stake in Ameriprise Financial by 12.2% in the 4th quarter. KBC Group NV now owns 150,606 shares of the financial services provider’s stock worth $73,848,000 after purchasing an additional 16,433 shares in the last quarter. National Pension Service boosted its holdings in Ameriprise Financial by 8.2% in the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after purchasing an additional 12,563 shares during the period. LSV Asset Management boosted its holdings in Ameriprise Financial by 1.3% in the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after purchasing an additional 3,548 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $72,050,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Piper Sandler boosted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. BMO Capital Markets increased their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Jefferies Financial Group raised their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Morgan Stanley lifted their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $546.80 on Wednesday. The firm has a 50 day moving average of $479.17 and a 200-day moving average of $475.33. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $553.46. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $49.16 billion, a PE ratio of 13.19, a PEG ratio of 0.92 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the company posted $9.11 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 45.84 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s payout ratio is currently 16.40%.

Insider Activity

In related news, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

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.