DnB Asset Management AS Grows Position in Ameriprise Financial, Inc. (NYSE:AMP)

DnB Asset Management AS raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,687 shares of the financial services provider’s stock after purchasing an additional 781 shares during the period. DnB Asset Management AS’s holdings in Ameriprise Financial were worth $9,950,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. TCTC Holdings LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial in the 4th quarter worth $30,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth $36,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $481.64 on Friday. The company has a market cap of $46.29 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The stock’s fifty day moving average price is $524.55 and its 200 day moving average price is $523.05. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on 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 approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 directly owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

AMP has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed 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 target 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, Piper Sandler raised their price objective on 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, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $514.89.

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.