Ameriprise Financial, Inc. $AMP Shares Bought by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,163 shares of the financial services provider’s stock after buying an additional 4,876 shares during the period. Swiss Life Asset Management Ltd’s holdings in Ameriprise Financial were worth $19,694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMP. Holos Integrated Wealth LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $30,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial in the 3rd quarter worth approximately $32,000. Ares Financial Consulting LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $32,000. WFA of San Diego LLC bought a new position in Ameriprise Financial in the 2nd quarter worth approximately $36,000. Finally, Activest Wealth Management grew its holdings in Ameriprise Financial by 777.8% in the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock worth $39,000 after buying an additional 70 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent analyst reports. Morgan Stanley increased their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Piper Sandler increased their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. BMO Capital Markets upped their target price 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. Finally, Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $543.22.

Ameriprise Financial Stock Performance

AMP opened at $463.47 on Tuesday. The company has a market capitalization of $41.67 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.10 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The business has a 50 day moving average price of $454.42 and a two-hundred day moving average price of $473.82.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.50 earnings per share. Research analysts predict that Ameriprise Financial, Inc. will post 42.44 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a $1.70 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, May 4th. Ameriprise Financial’s dividend payout ratio is currently 16.91%.

Ameriprise Financial Company Profile

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.