abrdn plc Acquires 11,845 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

abrdn plc raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 15.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,016 shares of the financial services provider's stock after buying an additional 11,845 shares during the period. abrdn plc owned about 0.09% of Ameriprise Financial worth $34,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $34,000. Greenleaf Trust increased its holdings in shares of Ameriprise Financial by 2.1% during the fourth quarter. Greenleaf Trust now owns 4,858 shares of the financial services provider's stock worth $1,845,000 after buying an additional 98 shares in the last quarter. Zhang Financial LLC increased its holdings in shares of Ameriprise Financial by 13.3% during the fourth quarter. Zhang Financial LLC now owns 1,724 shares of the financial services provider's stock worth $655,000 after buying an additional 203 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Ameriprise Financial by 1.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 18,176 shares of the financial services provider's stock worth $6,904,000 after buying an additional 234 shares in the last quarter. Finally, HTLF Bank acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $237,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Trading Down 3.3 %

AMP traded down $14.11 during trading on Tuesday, reaching $407.27. 992,005 shares of the company's stock were exchanged, compared to its average volume of 500,047. The company's fifty day moving average price is $417.37 and its 200-day moving average price is $379.18. 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, Inc. has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The firm has a market capitalization of $40.80 billion, a PE ratio of 17.77, a P/E/G ratio of 0.69 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts' consensus estimates of $8.10 by $0.29. The company had revenue of $4.15 billion for the quarter, compared to analysts' expectations of $4.15 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The business's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $7.25 earnings per share. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 34.43 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be given a $1.48 dividend. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial's payout ratio is currently 22.78%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMP. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a "market perform" rating in a report on Wednesday, April 10th. UBS Group raised their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, January 25th. Raymond James began coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a "market perform" rating for the company. Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Monday, January 22nd. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an "underweight" rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and an average price target of $441.00.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,346 shares of the business's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the sale, the chief financial officer now directly owns 6,409 shares of the company's stock, valued at approximately $2,485,474.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,346 shares of the business's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company's stock, valued at approximately $2,485,474.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the business's stock in a transaction dated 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 completion of the sale, 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. In the last ninety days, insiders have sold 89,161 shares of company stock valued at $35,560,647. 0.96% of the stock is owned by corporate insiders.

Ameriprise Financial 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.