Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 18.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 511 shares of the financial services provider’s stock after acquiring an additional 79 shares during the period. Parkside Financial Bank & Trust’s holdings in Ameriprise Financial were worth $194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Ameriprise Financial by 63.9% during the third quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after purchasing an additional 136,621 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in Ameriprise Financial by 134.4% in the third quarter. Qube Research & Technologies Ltd now owns 208,570 shares of the financial services provider’s stock valued at $68,761,000 after acquiring an additional 119,578 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Ameriprise Financial by 107.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 209,822 shares of the financial services provider’s stock worth $69,174,000 after buying an additional 108,461 shares during the last quarter. Payden & Rygel Investment Group bought a new position in Ameriprise Financial in the 3rd quarter worth approximately $28,382,000. Finally, Canada Pension Plan Investment Board raised its holdings in Ameriprise Financial by 398.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 100,100 shares of the financial services provider’s stock valued at $33,001,000 after buying an additional 80,020 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMP shares. Piper Sandler raised their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. Morgan Stanley upped their target price on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Royal Bank of Canada increased their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group boosted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Finally, Evercore ISI increased their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $449.57.

Ameriprise Financial Price Performance

AMP opened at $412.86 on Thursday. The company has a market capitalization of $41.36 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 0.67 and a beta of 1.36. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a 50-day moving average price of $418.15 and a 200-day moving average price of $379.98. Ameriprise Financial, Inc. has a twelve month low of $279.85 and a twelve month high of $440.67.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $7.25 earnings per share. Equities analysts expect that Ameriprise Financial, Inc. will post 34.43 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. Stockholders of record on Monday, May 6th will be issued a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.43%. Ameriprise Financial’s dividend payout ratio is presently 18.38%.

Insider Activity

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 9,689 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the transaction, the chief executive officer now owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,161 shares of company stock valued at $35,560,647. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial 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.