Pacer Advisors Inc. Buys 1,404 Shares of Ameriprise Financial, Inc. $AMP

Pacer Advisors Inc. increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 18.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,996 shares of the financial services provider’s stock after buying an additional 1,404 shares during the quarter. Pacer Advisors Inc.’s holdings in Ameriprise Financial were worth $4,411,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SouthState Bank Corp lifted its position in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 22 shares during the period. Holos Integrated Wealth LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth $30,000. Ares Financial Consulting LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth $32,000. Prosperity Bancshares Inc acquired a new position in Ameriprise Financial in the fourth quarter valued at about $33,000. Finally, WFA of San Diego LLC acquired a new position in Ameriprise Financial in the second quarter valued at about $36,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of several recent analyst reports. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. BMO Capital Markets raised their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating for the company. Morgan Stanley upped their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Finally, Piper Sandler increased their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $543.22.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial 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 sale, the executive vice president directly owned 6,103 shares in the company, valued at $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. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $471.06 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18. The stock has a market capitalization of $42.35 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 0.99 and a beta of 1.16. The stock has a fifty day moving average of $460.50 and a 200-day moving average of $473.50.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data 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. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the firm posted $9.50 earnings per share. Ameriprise Financial’s revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 42.69 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 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.