KLP Kapitalforvaltning AS Invests $17.79 Million in Ameriprise Financial, Inc. (NYSE:AMP)

KLP Kapitalforvaltning AS acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 33,419 shares of the financial services provider’s stock, valued at approximately $17,793,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMP. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter worth $26,000. Whipplewood Advisors LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter worth $28,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial in the 4th quarter worth $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $36,000. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AMP shares. UBS Group lowered 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their target price 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. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley boosted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $514.89.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock worth $6,263,989 over the last 90 days. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $493.41 on Monday. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $47.43 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 1.15 and a beta of 1.33. The stock’s fifty day simple moving average is $528.03 and its 200-day simple moving average is $521.34.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.20%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

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.