Ameriprise Financial, Inc. $AMP Shares Bought by Candriam S.C.A.

Candriam S.C.A. grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 83.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,839 shares of the financial services provider’s stock after buying an additional 29,116 shares during the period. Candriam S.C.A. owned 0.07% of Ameriprise Financial worth $31,361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMP. Brighton Jones LLC grew its holdings in shares of Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares during the last quarter. Empowered Funds LLC boosted its position 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 period. Sivia Capital Partners LLC grew its stake in 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 buying an additional 72 shares during the last quarter. Blue Trust Inc. increased its position in Ameriprise Financial by 4.5% during the second quarter. Blue Trust Inc. now owns 865 shares of the financial services provider’s stock worth $462,000 after buying an additional 37 shares during the period. Finally, Aberdeen Group plc lifted its stake in Ameriprise Financial by 12.0% in the second quarter. Aberdeen Group plc now owns 71,300 shares of the financial services provider’s stock valued at $38,055,000 after buying an additional 7,667 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $434.00 to $530.00 in a report on Friday, January 30th. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 target price (up previously from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Jefferies Financial Group boosted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, Argus reduced their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $555.67.

Insider Buying and Selling

In other news, CFO Walter Stanley Berman sold 7,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director owned 7,500 shares in the company, valued at $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.57% of the company’s stock.

Ameriprise Financial Trading Down 0.7%

NYSE:AMP opened at $539.30 on Tuesday. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $552.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a fifty day moving average price of $501.31 and a two-hundred day moving average price of $491.83. The stock has a market capitalization of $50.11 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 1.27 and a beta of 1.26.

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

Ameriprise Financial Dividend Announcement

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