Balyasny Asset Management L.P. Invests $119.63 Million in Ameriprise Financial, Inc. $AMP

Balyasny Asset Management L.P. purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 243,967 shares of the financial services provider’s stock, valued at approximately $119,627,000.

Other institutional investors have also recently bought and sold shares of the company. NEOS Investment Management LLC increased its position in Ameriprise Financial by 45.5% during the third quarter. NEOS Investment Management LLC now owns 12,272 shares of the financial services provider’s stock worth $6,029,000 after buying an additional 3,838 shares during the last quarter. Pensionfund Sabic bought a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $1,471,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Ameriprise Financial by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after acquiring an additional 10,782 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in shares of Ameriprise Financial by 2,600.0% during the third quarter. Aster Capital Management DIFC Ltd now owns 3,483 shares of the financial services provider’s stock worth $1,711,000 after acquiring an additional 3,354 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Ameriprise Financial by 12.2% during the fourth quarter. KBC Group NV now owns 150,606 shares of the financial services provider’s stock worth $73,848,000 after acquiring an additional 16,433 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Up 0.0%

Shares of AMP stock opened at $471.56 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The stock has a market cap of $42.39 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 1.00 and a beta of 1.16. The stock has a 50 day simple moving average of $459.10 and a 200 day simple moving average of $473.22. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $1.05. The business had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company 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 business also recently declared 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 annualized dividend and a dividend yield of 1.4%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Wall Street Analysts Forecast Growth

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

About Ameriprise Financial

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.