Ameriprise Financial, Inc. $AMP Shares Acquired by Van Lanschot Kempen Investment Management N.V.

Key Points

• Van Lanschot Kempen Investment Management N.V. increased its stake in Ameriprise Financial by 9.8%, holding a total of 17,124 shares valued at $8.29 million.
• Some hedge funds significantly boosted their positions, with GAMMA Investing LLC increasing its holdings by 49,248.9% during the first quarter, now owning over 2.1 million shares valued at $1.02 billion.
• Ameriprise Financial recently announced a quarterly dividend of $1.60 per share, reflecting an annual yield of 1.3%, and initiated a stock repurchase plan authorizing up to $4.5 billion in share buybacks.

Van Lanschot Kempen Investment Management N.V. raised its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 9.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,124 shares of the financial services provider's stock after buying an additional 1,535 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Ameriprise Financial were worth $8,290,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Ameriprise Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after purchasing an additional 83 shares during the period. Spire Wealth Management raised its position in Ameriprise Financial by 91.6% in the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock worth $692,000 after acquiring an additional 683 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Ameriprise Financial by 488.5% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after buying an additional 806 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Ameriprise Financial by 6.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider's stock worth $12,055,000 after purchasing an additional 1,433 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Ameriprise Financial by 7.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider's stock worth $2,864,000 after purchasing an additional 420 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded up $10.6240 during trading on Friday, hitting $515.8540. The stock had a trading volume of 441,906 shares, compared to its average volume of 411,409. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The stock has a 50-day simple moving average of $521.12 and a two-hundred day simple moving average of $506.04. The stock has a market capitalization of $48.63 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.10 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.11. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.72 EPS. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial's payout ratio is currently 19.91%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMP. Piper Sandler lifted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada boosted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley cut Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their price objective for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $534.71.

Insider Activity

In other news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.73% of the company's stock.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.