Aberdeen Group plc Increases Stake in Ameriprise Financial, Inc. $AMP

Aberdeen Group plc increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 32.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,385 shares of the financial services provider’s stock after purchasing an additional 23,085 shares during the quarter. Aberdeen Group plc owned 0.10% of Ameriprise Financial worth $47,154,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its stake in Ameriprise Financial by 71.0% in the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 22 shares during the period. Salomon & Ludwin LLC lifted its position in shares of Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares during the period. Winnow Wealth LLC purchased a new stake in shares of Ameriprise Financial in the 2nd quarter worth about $32,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $32,000. Finally, WFA of San Diego LLC purchased a new position in shares of Ameriprise Financial during the second quarter valued at about $36,000. 83.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Walter Stanley Berman sold 7,000 shares of the business’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. The trade was a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the sale, the insider owned 4,621 shares of the company’s stock, valued at $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 18,158 shares of company stock valued at $9,675,085. 0.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods lowered their target price 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. 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 report on Monday, February 2nd. Argus decreased their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Finally, Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $434.00 to $530.00 in a report on Friday, January 30th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $473.38 on Tuesday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $552.43. The company’s 50-day moving average is $502.32 and its 200 day moving average is $490.47. The company has a market capitalization of $43.98 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26. 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 (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period in the previous year, the company earned $9.54 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend 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.