Assenagon Asset Management S.A. Acquires 79,600 Shares of Ameriprise Financial, Inc. $AMP

Assenagon Asset Management S.A. boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 60.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 211,503 shares of the financial services provider’s stock after acquiring an additional 79,600 shares during the period. Assenagon Asset Management S.A. owned 0.23% of Ameriprise Financial worth $103,708,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. CreativeOne Wealth LLC increased its holdings in Ameriprise Financial by 2.3% in the second quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 21 shares during the last quarter. Rexford Capital Inc. grew its position in shares of Ameriprise Financial by 20.6% during the 3rd quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock worth $60,000 after buying an additional 21 shares during the period. Dakota Community Bank & Trust NA increased its stake in shares of Ameriprise Financial by 2.4% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 942 shares of the financial services provider’s stock valued at $463,000 after acquiring an additional 22 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Ameriprise Financial by 0.8% in the 3rd quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock valued at $1,504,000 after acquiring an additional 23 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Ameriprise Financial by 5.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 23 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $441.92 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $550.18. The company’s 50 day moving average price is $483.26 and its two-hundred day moving average price is $481.50. The company has a market capitalization of $40.29 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last released its quarterly 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 company had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.54 earnings per share. On average, analysts expect 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 was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.60%.

Analysts Set New Price Targets

Several research firms recently weighed in on AMP. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. 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 report on Monday, February 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $555.67.

Insider Activity

In related news, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares in the company, valued at approximately $6,464,239.92. This represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,658 shares of company stock worth $8,998,675 over the last three months. Corporate insiders own 0.57% of the company’s stock.

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.