Sienna Gestion Has $16.27 Million Holdings in Ameriprise Financial, Inc. $AMP

Sienna Gestion grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,072 shares of the financial services provider’s stock after acquiring an additional 3,322 shares during the period. Ameriprise Financial accounts for 1.0% of Sienna Gestion’s holdings, making the stock its 22nd largest position. Sienna Gestion’s holdings in Ameriprise Financial were worth $16,272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. USS Investment Management Ltd lifted its position in Ameriprise Financial by 0.4% during the fourth quarter. USS Investment Management Ltd now owns 15,475 shares of the financial services provider’s stock worth $7,590,000 after acquiring an additional 61 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Ameriprise Financial by 3.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 22,395 shares of the financial services provider’s stock worth $10,981,000 after acquiring an additional 757 shares during the last quarter. Venture Visionary Partners LLC increased its holdings in shares of Ameriprise Financial by 0.4% during the fourth quarter. Venture Visionary Partners LLC now owns 16,812 shares of the financial services provider’s stock worth $8,244,000 after purchasing an additional 69 shares during the period. Panagora Asset Management Inc. raised its position in shares of Ameriprise Financial by 34.4% in the fourth quarter. Panagora Asset Management Inc. now owns 1,665 shares of the financial services provider’s stock valued at $816,000 after buying an additional 426 shares in the last quarter. Finally, Piedmont Capital Management LLC NC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $647,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the subject of several recent research reports. Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. BMO Capital Markets boosted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. Morgan Stanley boosted their price target on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Finally, Piper Sandler boosted their price target on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Trading Up 0.1%

Shares of AMP stock opened at $459.70 on Tuesday. The stock has a 50 day simple moving average of $457.54 and a 200 day simple moving average of $472.97. The stock has a market cap of $41.33 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 0.97 and a beta of 1.16. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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 business 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%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $9.50 earnings per share. On average, research analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s payout ratio is 16.91%.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction that occurred on 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 trade represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Company 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.