Rockefeller Capital Management L.P. Acquires 42,290 Shares of Ameriprise Financial, Inc. $AMP

Rockefeller Capital Management L.P. raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 53.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,063 shares of the financial services provider’s stock after buying an additional 42,290 shares during the period. Rockefeller Capital Management L.P.’s holdings in Ameriprise Financial were worth $59,362,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMP. SouthState Bank Corp increased its holdings in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 22 shares during the last quarter. Holos Integrated Wealth LLC acquired a new stake in Ameriprise Financial during the 4th quarter valued at $30,000. Ares Financial Consulting LLC bought a new position in Ameriprise Financial during the fourth quarter worth $32,000. Prosperity Bancshares Inc bought a new position in Ameriprise Financial during the fourth quarter worth $33,000. Finally, WFA of San Diego LLC acquired a new position in shares of Ameriprise Financial in the second quarter valued at $36,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s 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 completion of the sale, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Up 0.1%

AMP stock opened at $467.97 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $42.07 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.99 and a beta of 1.16. The business’s fifty day moving average price is $460.13 and its two-hundred day moving average price is $473.27.

Ameriprise Financial (NYSE:AMP) last announced 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. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the business posted $9.50 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 42.69 earnings per share for the current year.

Ameriprise Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMP. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating on the stock. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. BMO Capital Markets increased 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. Morgan Stanley increased their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Finally, Piper Sandler raised their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.