Applied Finance Capital Management LLC Acquires 1,654 Shares of Ameriprise Financial, Inc. $AMP

Applied Finance Capital Management LLC raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 45,741 shares of the financial services provider’s stock after acquiring an additional 1,654 shares during the period. Ameriprise Financial comprises about 1.6% of Applied Finance Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding. Applied Finance Capital Management LLC’s holdings in Ameriprise Financial were worth $22,429,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AMP. PFG Investments LLC increased its holdings in shares of Ameriprise Financial by 1.4% in the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock valued at $729,000 after purchasing an additional 21 shares in the last quarter. Institute for Wealth Management LLC. increased its holdings in shares of Ameriprise Financial by 3.6% in the fourth quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 21 shares in the last quarter. EPG Wealth Management LLC increased its holdings in shares of Ameriprise Financial by 0.8% in the fourth quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 21 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Ameriprise Financial by 0.8% in the third quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock valued at $1,504,000 after purchasing an additional 23 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Ameriprise Financial by 5.4% in the second quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 23 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research reports. BMO Capital Markets raised their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Piper Sandler raised their target price on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Jefferies Financial Group raised their target price on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Stock Down 0.3%

Shares of AMP stock opened at $470.53 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The firm’s 50-day moving average is $454.50 and its 200-day moving average is $473.67. The stock has a market cap of $42.30 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.12 and a beta of 1.20. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. The company had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. Ameriprise Financial’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.50 EPS. Sell-side analysts predict that Ameriprise Financial, Inc. will post 42.44 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $6.80 annualized dividend and a yield of 1.4%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s payout ratio is currently 16.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. This represents a 16.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

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.