KLP Kapitalforvaltning AS Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

KLP Kapitalforvaltning AS purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 33,419 shares of the financial services provider's stock, valued at approximately $17,793,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC increased its holdings in shares of Ameriprise Financial by 79,679.4% in the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock valued at $197,943,000 after purchasing an additional 371,306 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after buying an additional 358,699 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock valued at $222,103,000 after acquiring an additional 338,298 shares in the last quarter. Amundi boosted its stake in shares of Ameriprise Financial by 48.0% in the fourth quarter. Amundi now owns 642,226 shares of the financial services provider's stock valued at $343,546,000 after purchasing an additional 208,195 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Ameriprise Financial during the 4th quarter worth approximately $108,620,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

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Ameriprise Financial Stock Down 1.4 %

Shares of AMP traded down $7.15 on Thursday, hitting $497.97. The company's stock had a trading volume of 87,079 shares, compared to its average volume of 457,053. The firm's fifty day moving average price is $526.91 and its 200-day moving average price is $522.28. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $47.86 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating 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%. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company 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. This represents a $5.92 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares of the company's stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 in the last 90 days. 0.96% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler lifted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note 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. Keefe, Bruyette & Woods upped 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. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given 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 $514.89.

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.