Harvest Fund Management Co. Ltd Acquires 2,375 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Harvest Fund Management Co. Ltd boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 7,661.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,406 shares of the financial services provider's stock after buying an additional 2,375 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Ameriprise Financial were worth $1,281,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Proficio Capital Partners LLC raised its holdings in Ameriprise Financial by 79,679.4% during the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock worth $197,943,000 after buying an additional 371,306 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock valued at $2,013,359,000 after acquiring an additional 358,699 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock worth $222,103,000 after purchasing an additional 338,298 shares during the period. Amundi grew its position in Ameriprise Financial by 48.0% during the 4th quarter. Amundi now owns 642,226 shares of the financial services provider's stock worth $343,546,000 after purchasing an additional 208,195 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Ameriprise Financial during the 4th quarter valued at $108,620,000. 83.95% of the stock is owned by institutional investors.

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Ameriprise Financial Stock Up 3.3 %

NYSE:AMP traded up $16.18 during mid-day trading on Monday, reaching $508.82. The stock had a trading volume of 448,252 shares, compared to its average volume of 459,081. The stock has a market cap of $48.91 billion, a P/E ratio of 15.39, a PEG ratio of 1.15 and a beta of 1.33. The business's 50 day moving average is $528.03 and its 200 day moving average is $521.34. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.16%. Ameriprise Financial's dividend payout ratio (DPR) is currently 17.91%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMP shares. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Royal Bank of Canada restated an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. One 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 company presently has an average rating of "Hold" and an average price target of $514.89.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares of the company's stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 over the last quarter. 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.