Capital World Investors Has $60.29 Million Stake in Ameriprise Financial, Inc. $AMP

Key Points

• Capital World Investors boosted its Ameriprise Financial stake by 4.8% in the fourth quarter, bringing its holding to 122,949 shares valued at about $60.29 million.
• Several other hedge funds also added to positions in Ameriprise, and institutional investors and hedge funds own 83.95% of the stock overall.
• Analysts are mixed on AMP, with an average rating of "Hold" and an average target price of $543.22; meanwhile, Ameriprise recently beat quarterly EPS estimates and raised its dividend to $1.70 per share.

Capital World Investors increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,949 shares of the financial services provider's stock after buying an additional 5,612 shares during the period. Capital World Investors owned 0.13% of Ameriprise Financial worth $60,287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PFG Investments LLC raised its position in shares of Ameriprise Financial by 1.4% in the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider's stock valued at $729,000 after buying an additional 21 shares in the last quarter. Institute for Wealth Management LLC. raised its position in shares of Ameriprise Financial by 3.6% in the fourth quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider's stock valued at $297,000 after buying an additional 21 shares in the last quarter. EPG Wealth Management LLC raised its position in Ameriprise Financial by 0.8% during the fourth quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider's stock valued at $1,331,000 after purchasing an additional 21 shares in the last quarter. Essex Financial Services Inc. raised its position in Ameriprise Financial by 2.4% during the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider's stock valued at $443,000 after purchasing an additional 21 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Ameriprise Financial by 5.4% during the second quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider's stock valued at $239,000 after purchasing an additional 23 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research report on Thursday, April 30th. Weiss Ratings downgraded shares of Ameriprise Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a "hold" rating for the company. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Finally, BMO Capital Markets boosted their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $543.22.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director owned 6,300 shares of the company's stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the business's stock in a transaction 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 sale, the executive vice president directly 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 SEC filing for this sale provides additional information. Insiders own 0.60% of the company's stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $448.94 on Wednesday. The firm's fifty day moving average price is $456.18 and its two-hundred day moving average price is $472.75. The stock has a market cap of $40.36 billion, a PE ratio of 11.16, a PEG ratio of 0.95 and a beta of 1.16. 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 quick ratio of 0.66 and a current ratio of 0.66.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts' consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company's revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.50 earnings per share. On average, equities analysts expect that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

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

Ameriprise Financial 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.

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