Mirae Asset Global Investments Co. Ltd. Acquires 2,368 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 12.7% during the fourth quarter, HoldingsChannel reports. The fund owned 20,986 shares of the financial services provider’s stock after purchasing an additional 2,368 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ameriprise Financial were worth $11,176,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AMP. Czech National Bank lifted its holdings in shares of Ameriprise Financial by 5.2% during the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after purchasing an additional 1,033 shares during the period. Bridgewater Associates LP lifted its holdings in Ameriprise Financial by 97.8% during the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after buying an additional 24,968 shares during the period. Empowered Funds LLC grew its position in shares of Ameriprise Financial by 19.9% in the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after buying an additional 1,329 shares during the last quarter. SpiderRock Advisors LLC increased its stake in shares of Ameriprise Financial by 136.3% in the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after buying an additional 1,867 shares during the period. Finally, Aljian Capital Management LLC bought a new position in shares of Ameriprise Financial during the third quarter worth about $458,000. 83.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $541.99 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The firm has a fifty day simple moving average of $545.44 and a two-hundred day simple moving average of $500.53. The firm has a market capitalization of $52.58 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping 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%. Analysts forecast that Ameriprise Financial, Inc. will post 38.68 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMP shares. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $510.44.

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.