4,351 Shares in Ameriprise Financial, Inc. $AMP Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,351 shares of the financial services provider’s stock, valued at approximately $2,137,000.

Several other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its position in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares during the period. Empowered Funds LLC lifted its stake in shares of Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after purchasing an additional 634 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Ameriprise Financial by 14.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 72 shares during the period. Ascent Group LLC increased its position in shares of Ameriprise Financial by 5.0% during the 2nd quarter. Ascent Group LLC now owns 804 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 38 shares during the last quarter. Finally, Simplicity Wealth LLC increased its position in shares of Ameriprise Financial by 109.3% during the 2nd quarter. Simplicity Wealth LLC now owns 2,043 shares of the financial services provider’s stock worth $1,090,000 after purchasing an additional 1,067 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the sale, the director owned 7,500 shares of the company’s stock, valued at $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AMP shares. Jefferies Financial Group increased 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. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Evercore ISI dropped their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Royal Bank Of Canada restated an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday. Finally, Keefe, Bruyette & Woods dropped their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $555.67.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $529.85 on Wednesday. The company has a fifty day simple moving average of $494.43 and a two-hundred day simple moving average of $491.58. The company has a market cap of $49.23 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $552.43.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same period last year, the business posted $9.54 earnings per share. Ameriprise Financial’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial’s payout ratio is currently 17.60%.

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.