Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 702 shares of the financial services provider’s stock after purchasing an additional 67 shares during the period. Los Angeles Capital Management LLC’s holdings in Ameriprise Financial were worth $308,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Confluence Investment Management LLC acquired a new position in Ameriprise Financial during the first quarter worth $210,000. Nomura Holdings Inc. acquired a new position in Ameriprise Financial during the fourth quarter worth $775,000. HighPoint Advisor Group LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at $1,029,000. Cove Private Wealth LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at $2,145,000. Finally, Wellington Management Group LLP raised its stake in shares of Ameriprise Financial by 11.4% in the fourth quarter. Wellington Management Group LLP now owns 6,158 shares of the financial services provider’s stock valued at $2,339,000 after acquiring an additional 630 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $433.78 on Thursday. The firm has a market capitalization of $43.08 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.75 and a beta of 1.36. The business’s fifty day moving average price is $427.66 and its 200 day moving average price is $409.58. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $446.32.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $7.25 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were issued a dividend of $1.48 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of several analyst reports. Raymond James initiated coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating on the stock. Morgan Stanley increased their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Piper Sandler increased their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. The Goldman Sachs Group increased their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods increased 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $450.88.

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.