QRG Capital Management Inc. Increases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

QRG Capital Management Inc. raised its stake in Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,120 shares of the financial services provider’s stock after buying an additional 988 shares during the quarter. QRG Capital Management Inc.’s holdings in Ameriprise Financial were worth $7,262,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Venture Visionary Partners LLC lifted its position in Ameriprise Financial by 2.9% in the fourth quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock valued at $5,650,000 after buying an additional 416 shares during the last quarter. 17 Capital Partners LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth about $2,078,000. Cerity Partners LLC lifted its position in shares of Ameriprise Financial by 280.6% during the fourth quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock worth $11,585,000 after purchasing an additional 22,487 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Ameriprise Financial during the third quarter worth about $1,150,000. Finally, Heritage Investment Group Inc. acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth about $245,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO James M. Cracchiolo sold 11,288 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $399.64, for a total value of $4,511,136.32. Following the transaction, the chief executive officer now directly owns 185,310 shares in the company, valued at $74,057,288.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO James M. Cracchiolo sold 11,288 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $399.64, for a total value of $4,511,136.32. Following the completion of the sale, the chief executive officer now owns 185,310 shares in the company, valued at approximately $74,057,288.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James M. Cracchiolo sold 4,298 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $397.22, for a total transaction of $1,707,251.56. Following the transaction, the chief executive officer now directly owns 181,012 shares in the company, valued at $71,901,586.64. The disclosure for this sale can be found here. Insiders have sold 47,287 shares of company stock worth $19,160,409 over the last three months. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Down 0.2 %

NYSE:AMP traded down $0.68 during mid-day trading on Monday, hitting $432.87. The stock had a trading volume of 89,684 shares, compared to its average volume of 485,742. The stock has a 50-day simple moving average of $422.07 and a two-hundred day simple moving average of $388.09. The company has a market capitalization of $42.99 billion, a PE ratio of 14.76, a PEG ratio of 0.74 and a beta of 1.35. Ameriprise Financial, Inc. has a twelve month low of $291.87 and a twelve month high of $440.67. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMPGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating the consensus estimate of $8.10 by $0.29. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $7.25 earnings per share. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.74 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Analyst Ratings Changes

Several analysts have recently issued reports on AMP shares. Morgan Stanley increased their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Raymond James started coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. Piper Sandler increased their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. Argus increased their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $450.88.

Read Our Latest Stock Analysis on Ameriprise Financial

Ameriprise Financial Company Profile

(Free Report)

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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