Inceptionr LLC Grows Stake in Ameriprise Financial, Inc. $AMP

Inceptionr LLC raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 126.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,415 shares of the financial services provider’s stock after acquiring an additional 1,904 shares during the quarter. Ameriprise Financial makes up about 0.4% of Inceptionr LLC’s holdings, making the stock its 25th largest holding. Inceptionr LLC’s holdings in Ameriprise Financial were worth $1,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC lifted its position in Ameriprise Financial by 6.4% during the third quarter. Private Advisor Group LLC now owns 5,716 shares of the financial services provider’s stock worth $2,808,000 after buying an additional 344 shares in the last quarter. Diversify Advisory Services LLC grew its holdings in Ameriprise Financial by 74.6% in the 3rd quarter. Diversify Advisory Services LLC now owns 1,418 shares of the financial services provider’s stock valued at $641,000 after buying an additional 606 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Ameriprise Financial by 5.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,313 shares of the financial services provider’s stock worth $645,000 after acquiring an additional 68 shares during the period. B. Metzler seel. Sohn & Co. AG raised its holdings in shares of Ameriprise Financial by 5.8% during the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 4,602 shares of the financial services provider’s stock worth $2,261,000 after acquiring an additional 251 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $346,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,658 shares of company stock worth $8,998,675. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMP. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Argus cut their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Stock Down 1.7%

Shares of AMP opened at $464.84 on Monday. The company’s 50-day moving average price is $495.95 and its 200 day moving average price is $486.96. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm has a market cap of $42.38 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.08 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the firm posted $9.54 earnings per share. Ameriprise Financial’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

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.