Harvest Fund Management Co. Ltd Purchases 2,375 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Harvest Fund Management Co. Ltd grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 7,661.3% during the fourth quarter, HoldingsChannel reports. The firm owned 2,406 shares of the financial services provider’s stock after buying an additional 2,375 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Ameriprise Financial were worth $1,281,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after acquiring an additional 358,699 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after acquiring an additional 31,158 shares in the last quarter. Amundi lifted its stake in shares of Ameriprise Financial by 48.0% in the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after purchasing an additional 208,195 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Ameriprise Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock valued at $320,692,000 after purchasing an additional 5,048 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Ameriprise Financial by 429.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after purchasing an additional 338,298 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock worth $6,263,989. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

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

Ameriprise Financial Stock Up 2.1 %

Shares of NYSE AMP opened at $499.03 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The stock has a market capitalization of $47.97 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a 50-day moving average price of $529.32 and a 200-day moving average price of $520.13.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

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.