abrdn plc Increases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

abrdn plc raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 15.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 91,016 shares of the financial services provider’s stock after buying an additional 11,845 shares during the period. abrdn plc owned about 0.09% of Ameriprise Financial worth $34,571,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Ameriprise Financial during the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth $34,000. Carmel Capital Partners LLC purchased a new stake in shares of Ameriprise Financial in the 3rd quarter worth $30,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth $34,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth $39,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the sale, the chief executive officer now directly owns 12,126 shares in the company, valued at $4,731,807.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Joseph Edward Sweeney sold 5,146 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $389.47, for a total transaction of $2,004,212.62. Following the completion of the transaction, the insider now directly owns 9,421 shares in the company, valued at $3,669,196.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 9,689 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the transaction, the chief executive officer now owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The disclosure for this sale can be found here. Insiders have sold a total of 89,161 shares of company stock valued at $35,560,647 over the last ninety days. 0.96% of the stock is owned by company insiders.

Ameriprise Financial Stock Up 1.0 %

Shares of NYSE AMP opened at $421.33 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $42.21 billion, a P/E ratio of 17.77, a PEG ratio of 0.69 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The firm has a 50-day simple moving average of $417.37 and a two-hundred day simple moving average of $379.18.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 EPS for the quarter, topping analysts’ consensus estimates of $8.14 by $0.25. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $7.25 earnings per share. Research analysts anticipate that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.41%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.78%.

Analyst Upgrades and Downgrades

AMP has been the subject of several analyst reports. The Goldman Sachs Group upped their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Morgan Stanley upped their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Raymond James initiated coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Evercore ISI increased their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Finally, UBS Group increased their price target on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $441.00.

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.