LPL Financial LLC Buys 17,875 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

LPL Financial LLC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 33.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 71,685 shares of the financial services provider’s stock after buying an additional 17,875 shares during the quarter. LPL Financial LLC owned approximately 0.07% of Ameriprise Financial worth $38,167,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMP. Proficio Capital Partners LLC boosted its holdings in shares of Ameriprise Financial by 79,679.4% during the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock valued at $197,943,000 after acquiring an additional 371,306 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after buying an additional 338,298 shares during the period. Amundi raised its holdings in Ameriprise Financial by 48.0% in the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after buying an additional 208,195 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $108,620,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the subject of several recent research reports. Piper Sandler upped their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Morgan Stanley increased their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price 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 company a “market perform” rating in a research report on Monday, February 3rd. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Stock Down 3.4 %

Shares of NYSE:AMP opened at $481.64 on Friday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. 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 business’s 50-day moving average is $524.55 and its 200-day moving average is $522.43. The company has a market capitalization of $46.29 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (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%. Equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a $1.48 dividend. 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 payout ratio is 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,636 shares of company stock valued at $6,263,989. Corporate insiders own 0.96% of the company’s stock.

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.