Deseret Mutual Benefit Administrators Increases Position in Ameriprise Financial, Inc. (NYSE:AMP)

Deseret Mutual Benefit Administrators lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 21.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 668 shares of the financial services provider’s stock after purchasing an additional 119 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Ameriprise Financial were worth $356,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bradley Foster & Sargent Inc. CT lifted its holdings in Ameriprise Financial by 4.7% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 5,604 shares of the financial services provider’s stock worth $2,984,000 after buying an additional 254 shares during the last quarter. Morningstar Investment Management LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth approximately $209,000. Boston Financial Mangement LLC boosted its holdings in Ameriprise Financial by 8.8% in the fourth quarter. Boston Financial Mangement LLC now owns 1,761 shares of the financial services provider’s stock valued at $938,000 after purchasing an additional 143 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Ameriprise Financial by 11.7% in the fourth quarter. Handelsbanken Fonder AB now owns 26,169 shares of the financial services provider’s stock valued at $13,933,000 after purchasing an additional 2,732 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in Ameriprise Financial by 8.6% in the fourth quarter. Ieq Capital LLC now owns 8,986 shares of the financial services provider’s stock valued at $4,784,000 after purchasing an additional 708 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on 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 directly owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $530.18 on Friday. The stock’s 50-day moving average price is $540.89 and its 200 day moving average price is $508.68. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $51.44 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) 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 38.55 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AMP shares. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 target price 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 research note on Monday, February 3rd. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock 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.