Ameriprise Financial, Inc. $AMP Shares Purchased by Midwest Trust Co

Key Points

• Midwest Trust Co increased its Ameriprise Financial stake by 5.9% in the fourth quarter, bringing its holdings to 117,600 shares worth about $57.7 million. Other institutional investors also added to positions, and institutions collectively own 83.95% of the stock.
• Ameriprise reported better-than-expected quarterly earnings, with EPS of $11.26 topping estimates, and revenue up 9.7% year over year to $4.77 billion. The company also lifted its quarterly dividend to $1.70 per share from $1.60.
• Several analysts remain constructive but mixed on the stock: the consensus rating is Hold with a $543.22 price target. Shares recently traded at $465.09, while insiders including the CEO sold shares in February.

Midwest Trust Co boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,600 shares of the financial services provider's stock after acquiring an additional 6,552 shares during the quarter. Midwest Trust Co owned about 0.13% of Ameriprise Financial worth $57,664,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in Ameriprise Financial by 0.4% during the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider's stock worth $2,171,360,000 after buying an additional 18,879 shares during the period. Boston Partners boosted its position in Ameriprise Financial by 1.1% in the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider's stock valued at $586,083,000 after buying an additional 13,172 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Ameriprise Financial by 29.3% during the third quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider's stock valued at $474,628,000 after acquiring an additional 219,080 shares in the last quarter. Legal & General Group Plc increased its position in shares of Ameriprise Financial by 11.5% during the third quarter. Legal & General Group Plc now owns 634,413 shares of the financial services provider's stock worth $311,655,000 after acquiring an additional 65,687 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Ameriprise Financial by 18.4% during the third quarter. AQR Capital Management LLC now owns 589,570 shares of the financial services provider's stock worth $289,626,000 after acquiring an additional 91,697 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of analyst reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a report on Friday, April 10th. They set a "hold" rating on the stock. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the company a "strong-buy" rating in a research report on Wednesday, February 11th. Jefferies Financial Group increased their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Finally, Piper Sandler raised their price target 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 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 issued a Sell rating to the company's stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of "Hold" and a consensus price target of $543.22.

Insiders Place Their Bets

In related news, insider Gumer Alvero sold 4,658 shares of the business's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the sale, the insider owned 4,621 shares of the company's stock, valued at $2,508,648.48. This represents a 50.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the firm's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer directly owned 12,149 shares in the company, valued at $6,464,239.92. This represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Up 1.4%

Shares of Ameriprise Financial stock opened at $465.09 on Friday. The business has a 50-day moving average price of $455.15 and a 200 day moving average price of $473.98. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The firm has a market cap of $42.41 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.10 and a beta of 1.20. The company has a quick ratio of 0.68, a current ratio of 0.66 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping analysts' consensus estimates of $10.21 by $1.05. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.Ameriprise Financial's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $9.50 EPS. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 42.44 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

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

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.

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.