Northwest & Ethical Investments L.P. Grows Position in Ameriprise Financial, Inc. (NYSE:AMP)

Northwest & Ethical Investments L.P. lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 85.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 20,621 shares of the financial services provider’s stock after acquiring an additional 9,527 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Ameriprise Financial were worth $10,979,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Howard Capital Management Group LLC increased its holdings in Ameriprise Financial by 11.1% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after purchasing an additional 178 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Ameriprise Financial in the 3rd quarter worth approximately $503,000. Fifth Third Wealth Advisors LLC grew its position in shares of Ameriprise Financial by 3.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,505 shares of the financial services provider’s stock worth $1,647,000 after acquiring an additional 127 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Ameriprise Financial in the 3rd quarter worth approximately $3,278,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Ameriprise Financial in the 3rd quarter worth approximately $4,144,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMP has been the subject of several research reports. Piper Sandler lifted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on 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, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $514.89.

Ameriprise Financial Trading Up 2.1 %

Shares of AMP stock opened at $499.03 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year 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 stock has a fifty day moving average of $529.32 and a two-hundred day moving average of $520.13. The firm has a market capitalization of $47.97 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last posted 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%. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

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

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by corporate insiders.

About Ameriprise Financial

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.