Aster Capital Management DIFC Ltd Increases Stake in Ameriprise Financial, Inc. $AMP

Aster Capital Management DIFC Ltd increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2,600.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,483 shares of the financial services provider’s stock after acquiring an additional 3,354 shares during the quarter. Ameriprise Financial makes up about 0.9% of Aster Capital Management DIFC Ltd’s investment portfolio, making the stock its 21st largest position. Aster Capital Management DIFC Ltd’s holdings in Ameriprise Financial were worth $1,711,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of Ameriprise Financial by 2.9% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 21 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in Ameriprise Financial by 2.3% during the second quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock worth $497,000 after buying an additional 21 shares during the period. Rexford Capital Inc. lifted its holdings in Ameriprise Financial by 20.6% during the third 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 boosted its position in Ameriprise Financial by 2.4% during 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 in the last quarter. Finally, RWA Wealth Partners LLC increased its holdings in shares of Ameriprise Financial by 0.5% in the 2nd quarter. RWA Wealth Partners LLC now owns 4,367 shares of the financial services provider’s stock valued at $2,331,000 after acquiring an additional 23 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. This trade represents a 50.20% 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, CEO William F. Truscott sold 5,000 shares of the business’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 value of $2,660,400.00. Following the completion of the transaction, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 16,658 shares of company stock valued at $8,998,675. 0.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Argus lowered their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. One 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $555.67.

Ameriprise Financial Stock Up 1.8%

Shares of AMP stock opened at $486.88 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $550.18. The firm has a market capitalization of $44.39 billion, a PE ratio of 13.39, a P/E/G 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. The stock’s 50-day simple moving average is $499.40 and its 200-day simple moving average is $488.88.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 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 $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the prior year, the firm earned $9.54 earnings per share. Ameriprise Financial’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be paid a $1.60 dividend. The ex-dividend date is Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Ameriprise Financial 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.