Charles Schwab Investment Management Inc. Raises Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Charles Schwab Investment Management Inc. grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 584,707 shares of the financial services provider's stock after purchasing an additional 4,811 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.58% of Ameriprise Financial worth $222,089,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMP. Barclays PLC grew its position in shares of Ameriprise Financial by 63.9% during the 3rd quarter. Barclays PLC now owns 350,391 shares of the financial services provider's stock valued at $115,517,000 after purchasing an additional 136,621 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Ameriprise Financial by 134.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 208,570 shares of the financial services provider's stock worth $68,761,000 after acquiring an additional 119,578 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Ameriprise Financial by 107.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 209,822 shares of the financial services provider's stock worth $69,174,000 after acquiring an additional 108,461 shares during the last quarter. Payden & Rygel Investment Group bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth $28,382,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Ameriprise Financial by 398.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 100,100 shares of the financial services provider's stock worth $33,001,000 after acquiring an additional 80,020 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMP has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an "outperform" rating in a report on Wednesday, April 24th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an "underweight" rating in a report on Friday, April 5th. Argus increased their target price on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a "buy" rating in a report on Monday. Morgan Stanley boosted 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. Finally, Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a "market perform" rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $450.88.

Insider Activity at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 7,200 shares of the business's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $401.82, for a total transaction of $2,893,104.00. Following the transaction, the insider now owns 7,000 shares in the company, valued at $2,812,740. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Joseph Edward Sweeney sold 7,200 shares of the company's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $401.82, for a total value of $2,893,104.00. Following the transaction, the insider now owns 7,000 shares in the company, valued at $2,812,740. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Dawn M. Brockman sold 224 shares of the company's stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders have sold 56,980 shares of company stock worth $23,053,480 over the last 90 days. 0.96% of the stock is owned by company insiders.

Ameriprise Financial Trading Up 1.0 %

Shares of NYSE:AMP traded up $4.24 on Thursday, hitting $430.18. The company had a trading volume of 278,963 shares, compared to its average volume of 491,823. The firm's 50-day simple moving average is $420.85 and its two-hundred day simple moving average is $386.14. The firm has a market capitalization of $43.10 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 0.71 and a beta of 1.35. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 1 year low of $286.58 and a 1 year high of $440.67.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company had revenue of $4.15 billion for the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter in the previous year, the company earned $7.25 earnings per share. Ameriprise Financial's quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts anticipate that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.38%. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.35. Ameriprise Financial's payout ratio is currently 20.15%.

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.