Ameriprise Financial, Inc. (NYSE:AMP) is Quartz Partners LLC’s 10th Largest Position

Quartz Partners LLC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,024 shares of the financial services provider’s stock after acquiring an additional 346 shares during the period. Ameriprise Financial accounts for 2.0% of Quartz Partners LLC’s investment portfolio, making the stock its 10th biggest holding. Quartz Partners LLC’s holdings in Ameriprise Financial were worth $3,207,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AMP. JPMorgan Chase & Co. lifted its stake in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after buying an additional 358,699 shares during the period. Geode Capital Management LLC lifted its position in shares of Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after acquiring an additional 31,158 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after purchasing an additional 338,298 shares in the last quarter. Maj Invest Holding A S increased its position in shares of Ameriprise Financial by 67.5% during the fourth quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock valued at $187,466,000 after purchasing an additional 141,927 shares during the period. Finally, AustralianSuper Pty Ltd increased its position in shares of Ameriprise Financial by 41.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 256,309 shares of the financial services provider’s stock valued at $136,467,000 after purchasing an additional 74,705 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were 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 approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $530.18 on Monday. The stock has a market capitalization of $51.43 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The firm has a 50 day moving average of $540.50 and a 200-day moving average of $511.27. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.12%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s payout ratio is presently 17.91%.

Analyst Ratings Changes

A number of research firms have weighed in on AMP. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Finally, Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $510.44.

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.