AIA Group Ltd Raises Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

AIA Group Ltd boosted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 256.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,434 shares of the financial services provider's stock after purchasing an additional 7,508 shares during the period. AIA Group Ltd's holdings in Ameriprise Financial were worth $3,963,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AMP. Fairfield Bush & CO. purchased a new stake in shares of Ameriprise Financial in the first quarter worth approximately $53,000. Synovus Financial Corp lifted its position in Ameriprise Financial by 2.9% during the first quarter. Synovus Financial Corp now owns 1,961 shares of the financial services provider's stock valued at $588,000 after purchasing an additional 56 shares during the period. Aviva PLC grew its holdings in Ameriprise Financial by 23.7% during the first quarter. Aviva PLC now owns 45,024 shares of the financial services provider's stock worth $13,523,000 after acquiring an additional 8,625 shares during the period. Prudential PLC purchased a new position in shares of Ameriprise Financial during the 1st quarter valued at approximately $724,000. Finally, Cetera Investment Advisers increased its holdings in Ameriprise Financial by 62.5% in the first quarter. Cetera Investment Advisers now owns 2,900 shares of the financial services provider's stock valued at $871,000 after buying an additional 1,115 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on AMP. Morgan Stanley raised their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 9th. Piper Sandler upped their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an "underweight" rating in a research note on Friday, April 5th. UBS Group lifted their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a "buy" rating in a research report on Thursday, January 25th. The Goldman Sachs Group boosted their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a "buy" rating in a research note on Wednesday, March 27th. Finally, Evercore ISI lifted their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an "in-line" rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $441.00.

Insider Transactions 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 stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the sale, the chief executive officer now owns 12,126 shares in the company, valued at approximately $4,731,807.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now owns 1,288 shares of the company's stock, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction 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 sale, the chief executive officer now directly owns 12,126 shares of the company's stock, valued at $4,731,807.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,161 shares of company stock worth $35,560,647. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of AMP stock traded up $0.86 during mid-day trading on Thursday, hitting $412.63. 365,844 shares of the stock traded hands, compared to its average volume of 484,501. The company's 50-day simple moving average is $416.48 and its 200-day simple moving average is $377.00. The firm has a market cap of $41.34 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. Ameriprise Financial, Inc. has a twelve month low of $279.85 and a twelve month high of $440.67. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.67 by $0.08. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.90 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.94 EPS. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm 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 dividend yield of 1.31%. The ex-dividend date was Thursday, February 8th. Ameriprise Financial's payout ratio is presently 22.78%.

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.