KBC Group NV Buys 16,433 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• KBC Group NV raised its stake in Ameriprise by 12.2%, buying 16,433 shares to hold 150,606 shares (about 0.16% of the company) valued at $73.85 million at the end of the quarter.
• Ameriprise beat Q4 expectations with EPS $10.83 vs. $10.33 and revenue $4.92B vs. $4.75B, and it pays a $1.60 quarterly dividend (annualized $6.40, a 1.4% yield) with a 17.6% payout ratio.
• Insiders sold 16,658 shares in the last quarter (including CEO and CFO sales), while analysts are mixed—consensus rating "Hold" with a $544.22 price target.

KBC Group NV raised its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,606 shares of the financial services provider's stock after purchasing an additional 16,433 shares during the quarter. KBC Group NV owned approximately 0.16% of Ameriprise Financial worth $73,848,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AMP. Brighton Jones LLC grew its stake in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after purchasing an additional 50 shares in the last quarter. Empowered Funds LLC grew its stake in Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock valued at $2,915,000 after purchasing an additional 634 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock valued at $312,000 after purchasing an additional 72 shares in the last quarter. Schnieders Capital Management LLC. bought a new position in Ameriprise Financial in the second quarter valued at approximately $313,000. Finally, Gabelli Funds LLC grew its stake in Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock valued at $2,253,000 after purchasing an additional 2,922 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $458.60 on Friday. The stock has a market cap of $41.82 billion, a P/E ratio of 12.61, a PEG ratio of 1.14 and a beta of 1.27. The stock has a 50 day simple moving average of $459.53 and a 200 day simple moving average of $475.87. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly 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. The business had revenue of $4.92 billion during the quarter, compared to analysts' expectations of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $9.54 EPS. Research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial's payout ratio is currently 17.60%.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 5,000 shares of the business's stock in a transaction on 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 owned 12,149 shares of the company's stock, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Walter Stanley Berman sold 7,000 shares of the business's stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer directly owned 5,609 shares of the company's stock, valued at $3,052,529.98. This trade represents a 55.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 16,658 shares of company stock valued at $8,998,675. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMP. Jefferies Financial Group raised their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Morgan Stanley cut their price objective on Ameriprise Financial from $485.00 to $452.00 and set an "underweight" rating for the company in a research report on Friday, April 10th. Piper Sandler cut their price objective on Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating for the company in a research report on Tuesday, April 7th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a "strong-buy" rating in a research report on Wednesday, February 11th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. One 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $544.22.

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.

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