DE Burlo Group Inc. Acquires Shares of 7,040 Ameriprise Financial, Inc. (NYSE:AMP)

DE Burlo Group Inc. purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 7,040 shares of the financial services provider's stock, valued at approximately $3,748,000.

Several other hedge funds and other institutional investors have also modified their holdings of AMP. TCTC Holdings LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at about $28,000. Wingate Wealth Advisors Inc. bought a new stake in Ameriprise Financial in the 4th quarter valued at about $30,000. Finally, Sound Income Strategies LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at about $36,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. Corporate insiders own 0.57% of the company's stock.

Analyst Ratings Changes

AMP has been the topic of several recent research reports. Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a research report on Monday, April 7th. Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday. Piper Sandler boosted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $520.00 to $510.00 and set a "market perform" rating on the stock in a research report on Tuesday. Finally, UBS Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $509.67.

Ameriprise Financial Trading Up 0.8 %

Shares of Ameriprise Financial stock traded up $3.57 during trading on Thursday, hitting $474.59. The stock had a trading volume of 124,744 shares, compared to its average volume of 558,474. The stock has a 50 day simple moving average of $482.67 and a 200 day simple moving average of $521.56. The company has a market capitalization of $45.47 billion, a PE ratio of 14.36, a P/E/G ratio of 1.15 and a beta of 1.23. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same period last year, the company earned $8.39 earnings per share. Ameriprise Financial's quarterly revenue was up 3.6% compared to the same quarter last year. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its board has authorized a share repurchase program on Thursday, April 24th that permits the company to buyback $4.50 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 9.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.35%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Monday, May 5th. Ameriprise Financial's dividend payout ratio (DPR) is currently 21.75%.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.