33,419 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, Holdings Channel reports. The fund acquired 33,419 shares of the financial services provider’s stock, valued at approximately $17,793,000.

Several other large investors have also made changes to their positions in the business. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $28,000. Whipplewood Advisors LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter worth approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in Ameriprise Financial during the 4th quarter worth $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.1 %

Shares of NYSE:AMP opened at $493.41 on Monday. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $47.43 billion, a PE ratio of 14.92, a PEG ratio of 1.15 and a beta of 1.33. The company has a 50 day moving average price of $528.03 and a two-hundred day moving average price of $521.34.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is presently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,636 shares of company stock valued at $6,263,989. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler raised their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $514.89.

Ameriprise Financial Company Profile

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.