Smartleaf Asset Management LLC Acquires 1,103 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Smartleaf Asset Management LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 74.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,581 shares of the financial services provider's stock after acquiring an additional 1,103 shares during the period. Smartleaf Asset Management LLC's holdings in Ameriprise Financial were worth $1,370,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC boosted its stake 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 during the last quarter. JPMorgan Chase & Co. grew its holdings in 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 acquiring an additional 358,699 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in 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 worth $222,103,000 after acquiring an additional 338,298 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Ameriprise Financial by 816.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider's stock worth $116,698,000 after acquiring an additional 195,271 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Ameriprise Financial by 144.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider's stock valued at $114,345,000 after purchasing an additional 143,648 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Performance

AMP traded up $11.40 during trading on Wednesday, hitting $509.57. 766,853 shares of the company traded hands, compared to its average volume of 459,157. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The stock's fifty day moving average is $538.97 and its 200 day moving average is $516.74. 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 cap of $48.98 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36.

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

Ameriprise Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley boosted their target price 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. Royal Bank of Canada restated an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. Finally, Piper Sandler increased their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $514.89.

Insiders Place Their Bets

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was 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 in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 in the last quarter. 0.73% of the stock is owned by company insiders.

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.