Rockefeller Capital Management L.P. Has $59.36 Million Position in Ameriprise Financial, Inc. $AMP

Key Points

• Rockefeller Capital Management boosted its stake in Ameriprise Financial by 53.7% in the fourth quarter, ending with 121,063 shares worth about $59.36 million.
• Ameriprise reported Q1 earnings of $11.26 per share, beating estimates, while revenue rose 9.7% year over year to $4.77 billion; the company also raised its quarterly dividend to $1.70 per share from $1.60.
• Despite some analyst caution, Wall Street’s overall view remains Hold, with a consensus price target of $543.22; the stock recently traded around $467.97.

Rockefeller Capital Management L.P. increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 53.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,063 shares of the financial services provider's stock after purchasing an additional 42,290 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.13% of Ameriprise Financial worth $59,362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. PFG Investments LLC lifted its stake in 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. increased its position in shares of Ameriprise Financial by 3.6% during the fourth quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider's stock worth $297,000 after acquiring an additional 21 shares in the last quarter. EPG Wealth Management LLC raised its holdings in shares of 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 worth $1,331,000 after acquiring an additional 21 shares during the period. Essex Financial Services Inc. raised its holdings in shares of Ameriprise Financial by 2.4% during the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider's stock worth $443,000 after acquiring an additional 21 shares during the period. Finally, SouthState Bank Corp lifted its position in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 22 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm's 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 completion of the transaction, the director directly owned 6,300 shares of the company's stock, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm's 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 transaction, the executive vice president directly owned 6,103 shares of the company's stock, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a "hold" rating for the company. Piper Sandler boosted their price target on Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Weiss Ratings raised Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Finally, Morgan Stanley boosted their target price on Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $543.22.

Ameriprise Financial Trading Up 0.1%

Shares of NYSE:AMP opened at $467.97 on Friday. The company's 50-day moving average price is $460.13 and its two-hundred day moving average price is $473.27. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $42.07 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 0.99 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. The company had revenue of $4.77 billion during the quarter, compared to analysts' expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.Ameriprise Financial's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $9.50 EPS. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 42.69 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

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