Robeco Institutional Asset Management B.V. Boosts Holdings in Ameriprise Financial, Inc. $AMP

Robeco Institutional Asset Management B.V. lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 357,484 shares of the financial services provider’s stock after buying an additional 24,468 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Ameriprise Financial were worth $175,614,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Ameriprise Financial in the 2nd quarter worth $693,736,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Ameriprise Financial by 55.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock valued at $1,086,724,000 after buying an additional 796,925 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after buying an additional 446,080 shares in the last quarter. Federated Hermes Inc. increased its holdings in Ameriprise Financial by 22.4% in the 2nd quarter. Federated Hermes Inc. now owns 747,083 shares of the financial services provider’s stock worth $398,741,000 after buying an additional 136,761 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in Ameriprise Financial by 29.8% in the 2nd quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock worth $262,075,000 after buying an additional 112,784 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Up 2.9%

NYSE:AMP opened at $507.88 on Tuesday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The business has a fifty day moving average price of $472.78 and a 200-day moving average price of $495.28. The firm has a market capitalization of $47.19 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the previous year, the business earned $9.02 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were paid a dividend of $1.60 per share. The ex-dividend date was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is 17.55%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Royal Bank Of Canada reduced their price target on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Argus lowered their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Evercore ISI cut their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Finally, BMO Capital Markets began coverage on Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $528.75.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.57% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.