Ameriprise Financial, Inc. $AMP Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 22.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,959 shares of the financial services provider’s stock after buying an additional 1,475 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Ameriprise Financial were worth $4,042,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMP. Norges Bank acquired a new stake in Ameriprise Financial in the 2nd quarter valued at $693,736,000. Qube Research & Technologies Ltd raised its position in Ameriprise Financial by 140.5% during the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after acquiring an additional 275,659 shares during the period. Man Group plc raised its position in Ameriprise Financial by 687.4% during the third quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock worth $135,989,000 after acquiring an additional 241,665 shares during the period. Federated Hermes Inc. lifted its holdings in Ameriprise Financial by 29.3% during the third quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock valued at $474,628,000 after purchasing an additional 219,080 shares in the last quarter. Finally, Close Asset Management Ltd grew its position in shares of Ameriprise Financial by 78.2% in the third quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock valued at $227,652,000 after purchasing an additional 203,252 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $437.95 on Monday. The company has a market cap of $39.93 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.02 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 company’s 50-day moving average price is $484.63 and its 200-day moving average price is $482.00. The company has a current ratio of 0.68, a quick 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 earnings per share (EPS) 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%. Ameriprise Financial’s 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 EPS. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were given a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio is 17.60%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMP. Morgan Stanley boosted their target price 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. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their price target for the company from $434.00 to $530.00 in a research note on Friday, January 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Finally, Jefferies Financial Group increased their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating 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 given a Sell rating to the company. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $555.67.

Insider Activity

In other Ameriprise Financial 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 transaction of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction on Monday, February 9th. The shares were 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 approximately $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. Insiders sold 16,658 shares of company stock worth $8,998,675 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

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.