American Century Companies Inc. Acquires 3,549 Shares of Ameriprise Financial, Inc. $AMP

American Century Companies Inc. boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 261,205 shares of the financial services provider’s stock after acquiring an additional 3,549 shares during the period. American Century Companies Inc. owned 0.28% of Ameriprise Financial worth $128,317,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Huntington National Bank increased its holdings in Ameriprise Financial by 29.4% in the third quarter. Huntington National Bank now owns 3,926 shares of the financial services provider’s stock valued at $1,929,000 after purchasing an additional 893 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Ameriprise Financial by 61.7% during the 3rd quarter. Quantbot Technologies LP now owns 24,958 shares of the financial services provider’s stock worth $12,261,000 after buying an additional 9,519 shares during the period. Accredited Wealth Management LLC increased its stake in shares of Ameriprise Financial by 54,066.7% in the 3rd quarter. Accredited Wealth Management LLC now owns 3,250 shares of the financial services provider’s stock valued at $1,597,000 after acquiring an additional 3,244 shares during the last quarter. Aster Capital Management DIFC Ltd increased its stake in shares of Ameriprise Financial by 2,600.0% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,483 shares of the financial services provider’s stock valued at $1,711,000 after acquiring an additional 3,354 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Ameriprise Financial by 8.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 30,020 shares of the financial services provider’s stock valued at $14,747,000 after acquiring an additional 2,402 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

AMP has been the subject of several recent analyst reports. Morgan Stanley upped their target price 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. Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Argus lowered their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $434.00 to $530.00 in a report on Friday, January 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $555.67.

Ameriprise Financial Trading Down 3.7%

NYSE:AMP opened at $468.96 on Monday. The company has a market cap of $42.76 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 1.10 and a beta of 1.27. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $550.18. The business has a 50 day moving average price of $498.99 and a two-hundred day moving average price of $488.28. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

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

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a $1.60 dividend. The ex-dividend date 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 presently 17.60%.

Insider Activity at Ameriprise Financial

In related news, 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 sale, the insider owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the firm’s stock in a transaction that occurred 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 approximately $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 16,658 shares of company stock valued at $8,998,675. 0.57% of the stock is owned by insiders.

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.