AIA Group Ltd Acquires 7,508 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

AIA Group Ltd lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 256.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,434 shares of the financial services provider’s stock after purchasing an additional 7,508 shares during the quarter. AIA Group Ltd’s holdings in Ameriprise Financial were worth $3,963,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Signaturefd LLC boosted its position in shares of Ameriprise Financial by 1.4% in the 3rd quarter. Signaturefd LLC now owns 2,238 shares of the financial services provider’s stock worth $738,000 after purchasing an additional 31 shares in the last quarter. Meeder Advisory Services Inc. boosted its position in shares of Ameriprise Financial by 1.1% in the 4th quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 31 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Ameriprise Financial by 1.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,176 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 33 shares in the last quarter. CI Investments Inc. boosted its position in shares of Ameriprise Financial by 2.6% in the 3rd quarter. CI Investments Inc. now owns 1,336 shares of the financial services provider’s stock worth $440,000 after purchasing an additional 34 shares in the last quarter. Finally, Gateway Advisory LLC boosted its position in shares of Ameriprise Financial by 1.7% in the 3rd quarter. Gateway Advisory LLC now owns 2,081 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 34 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of NYSE AMP traded up $0.30 during midday trading on Thursday, hitting $412.07. 189,239 shares of the stock traded hands, compared to its average volume of 482,194. The firm has a 50-day moving average of $416.13 and a two-hundred day moving average of $376.75. The firm has a market capitalization of $41.29 billion, a P/E ratio of 17.37, a PEG ratio of 0.68 and a beta of 1.36. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial, Inc. has a one year low of $279.85 and a one year high of $440.67.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, beating the consensus estimate of $7.67 by $0.08. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.90 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.94 EPS. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 34.43 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were paid a $1.35 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.31%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.78%.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 13,346 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $2,485,474.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 13,346 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The disclosure for this sale can be found here. Insiders sold 89,161 shares of company stock worth $35,560,647 in the last three months. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley upped their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Piper Sandler upped their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Evercore ISI upped their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. The Goldman Sachs Group upped their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, Raymond James assumed coverage on Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $441.00.

Ameriprise Financial 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.