Fox Run Management L.L.C. Makes New $2.08 Million Investment in Ameriprise Financial, Inc. $AMP

Fox Run Management L.L.C. bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,231 shares of the financial services provider’s stock, valued at approximately $2,078,000. Ameriprise Financial makes up 0.3% of Fox Run Management L.L.C.’s holdings, making the stock its 26th largest position.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Ameriprise Financial by 0.9% in the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after acquiring an additional 111,386 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Ameriprise Financial by 7.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after purchasing an additional 446,080 shares during the period. Geode Capital Management LLC increased its holdings in shares of Ameriprise Financial by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock valued at $1,500,115,000 after purchasing an additional 47,584 shares in the last quarter. Norges Bank acquired a new stake in shares of Ameriprise Financial in the second quarter valued at about $693,736,000. Finally, Boston Partners lifted its stake in shares of Ameriprise Financial by 3.1% in the second quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock valued at $629,650,000 after purchasing an additional 35,500 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 2.8%

Shares of NYSE:AMP opened at $466.29 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $42.52 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.06 and a beta of 1.26. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18. The stock’s fifty day simple moving average is $499.60 and its 200-day simple moving average is $488.96.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.54 EPS. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors 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 1.4%. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMP shares. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their target price for the company from $434.00 to $530.00 in a report on Friday, January 30th. Morgan Stanley raised their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Keefe, Bruyette & Woods cut their price target 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 given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $555.67.

Insider Buying and Selling

In related news, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were 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 of the company’s stock, valued at $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 16,658 shares of company stock worth $8,998,675. 0.57% of the stock is owned by insiders.

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.