Van ECK Associates Corp Has $12 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Van ECK Associates Corp raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 35.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,539 shares of the financial services provider's stock after purchasing an additional 5,919 shares during the quarter. Van ECK Associates Corp's holdings in Ameriprise Financial were worth $12,000,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock valued at $2,013,359,000 after purchasing an additional 358,699 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ameriprise Financial by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider's stock valued at $1,222,943,000 after acquiring an additional 31,158 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted 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. Maj Invest Holding A S boosted its holdings in shares of Ameriprise Financial by 67.5% during the 4th quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider's stock valued at $187,466,000 after acquiring an additional 141,927 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Ameriprise Financial by 3.8% during the 3rd quarter. Victory Capital Management Inc. now owns 248,192 shares of the financial services provider's stock valued at $116,603,000 after acquiring an additional 8,989 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Finally, 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $510.44.

Ameriprise Financial Trading Up 0.1 %

Shares of AMP stock traded up $0.55 during mid-day trading on Tuesday, hitting $546.48. The company's stock had a trading volume of 618,265 shares, compared to its average volume of 560,483. The company's fifty day simple moving average is $541.06 and its 200-day simple moving average is $507.16. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The company has a market cap of $53.01 billion, a PE ratio of 16.53, a P/E/G ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping 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 research analysts expect that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm'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 sale, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 6,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now 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. Corporate 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.