LSV Asset Management Boosts Position in Ameriprise Financial, Inc. $AMP

Key Points

• LSV Asset Management increased its stake in Ameriprise Financial by 1.3% in the fourth quarter, bringing its holdings to 272,018 shares valued at about $133.4 million.
• Several institutional investors also added to AMP, and 83.95% of the stock is now owned by hedge funds and other institutions, while insider ownership remains low at 0.60%.
• Ameriprise beat earnings expectations in its latest quarter, posting $11.26 EPS versus the expected $10.21, and it also raised its quarterly dividend to $1.70 per share from $1.60.

LSV Asset Management boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 272,018 shares of the financial services provider's stock after buying an additional 3,548 shares during the quarter. LSV Asset Management owned 0.29% of Ameriprise Financial worth $133,381,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMP. M&T Bank Corp raised its position in Ameriprise Financial by 1,440.2% during the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider's stock worth $228,572,000 after buying an additional 435,885 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Ameriprise Financial by 140.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider's stock worth $231,805,000 after buying an additional 275,659 shares during the last quarter. Man Group plc increased its holdings in shares of Ameriprise Financial by 687.4% during the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider's stock valued at $135,989,000 after purchasing an additional 241,665 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Ameriprise Financial by 29.3% during the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider's stock valued at $474,628,000 after purchasing an additional 219,080 shares in the last quarter. Finally, Close Asset Management Ltd increased its holdings in shares of Ameriprise Financial by 78.2% during the 3rd quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider's stock valued at $227,652,000 after purchasing an additional 203,252 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director owned 6,300 shares of the company's stock, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMP. Piper Sandler lifted their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Jefferies Financial Group lifted their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a "hold" rating for the company. Finally, Morgan Stanley lifted their target price 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $543.22.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $453.23 on Friday. The company's fifty day moving average price is $454.35 and its 200 day moving average price is $473.27. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The stock has a market capitalization of $40.75 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.06 and a beta of 1.20. 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 released its quarterly 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 firm had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the company earned $9.50 EPS. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

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

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