Meeder Asset Management Inc. Invests $16.64 Million in Ameriprise Financial, Inc. (NYSE:AMP)

Meeder Asset Management Inc. bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,800 shares of the financial services provider's stock, valued at approximately $16,637,000. Ameriprise Financial makes up 1.3% of Meeder Asset Management Inc.'s investment portfolio, making the stock its 18th biggest holding.

A number of other large investors have also bought and sold shares of AMP. OFI Invest Asset Management acquired a new position in Ameriprise Financial during the 3rd quarter worth approximately $25,000. Financial Freedom LLC acquired a new position in Ameriprise Financial during the 4th quarter worth approximately $27,000. Carmel Capital Partners LLC acquired a new position in Ameriprise Financial during the 3rd quarter worth approximately $30,000. FinTrust Capital Advisors LLC acquired a new position in Ameriprise Financial during the 4th quarter worth approximately $32,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Ameriprise Financial by 106.6% in the 1st quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider's stock valued at $38,000 after buying an additional 65 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMP has been the subject of several recent analyst reports. Piper Sandler increased their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an "underweight" rating in a report on Friday. Royal Bank of Canada increased their price objective on Ameriprise Financial from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Monday, January 22nd. UBS Group increased their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, January 25th. Evercore ISI downgraded shares of Ameriprise Financial from an "outperform" rating to an "in-line" rating and upped their price objective for the company from $385.00 to $400.00 in a report on Thursday, January 4th. Finally, The Goldman Sachs Group raised their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a "buy" rating in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $423.57.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the transaction, the chief executive officer now owns 12,126 shares of the company's stock, valued at approximately $4,731,807.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO William F. Truscott sold 9,689 shares of the firm's stock in a transaction on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the transaction, the chief executive officer now owns 12,126 shares of the company's stock, valued at $4,731,807.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm's stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the transaction, the director now directly owns 12,500 shares of the company's stock, valued at approximately $4,832,500. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock valued at $35,560,647 in the last quarter. Insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded up $5.92 on Friday, reaching $434.81. 295,544 shares of the company's stock were exchanged, compared to its average volume of 486,307. The company has a fifty day moving average of $411.30 and a 200-day moving average of $372.08. Ameriprise Financial, Inc. has a twelve month low of $279.85 and a twelve month high of $440.67. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $43.56 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.72 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, topping analysts' consensus estimates of $7.67 by $0.08. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the firm posted $6.94 EPS. The firm's quarterly revenue was up 9.0% on a year-over-year basis. On average, research analysts predict that Ameriprise Financial, Inc. will post 34.46 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, February 8th. Ameriprise Financial's payout ratio is 22.78%.

Ameriprise Financial Company Profile

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.