Syon Capital LLC Raises Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Syon Capital LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,783 shares of the financial services provider’s stock after acquiring an additional 90 shares during the period. Syon Capital LLC’s holdings in Ameriprise Financial were worth $677,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AMP. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Ameriprise Financial by 11.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,557 shares of the financial services provider’s stock valued at $971,000 after purchasing an additional 266 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of Ameriprise Financial by 9.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 4,841 shares of the financial services provider’s stock valued at $1,839,000 after purchasing an additional 426 shares in the last quarter. Bfsg LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $566,000. GAMMA Investing LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $314,000. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Ameriprise Financial by 18.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 511 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 79 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 5,146 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $389.47, for a total transaction of $2,004,212.62. Following the sale, the insider now owns 9,421 shares in the company, valued at approximately $3,669,196.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO William F. Truscott sold 8,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the completion of the transaction, the chief executive officer now owns 13,134 shares of the company’s stock, valued at approximately $5,411,864.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 5,146 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $389.47, for a total value of $2,004,212.62. Following the completion of the transaction, the insider now directly owns 9,421 shares of the company’s stock, valued at approximately $3,669,196.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,472 shares of company stock worth $31,779,805. 0.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AMP shares. Evercore ISI upped their price target on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. UBS Group upped their price target on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada increased their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, The Goldman Sachs Group increased their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $449.57.

Ameriprise Financial Price Performance

NYSE AMP traded down $0.90 during trading on Friday, hitting $410.01. 410,809 shares of the stock traded hands, compared to its average volume of 503,375. The company has a market capitalization of $41.08 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a 50-day simple moving average of $418.41 and a 200-day simple moving average of $380.19. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Monday, April 22nd. The financial services provider reported $8.39 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.25 EPS. As a group, analysts predict that Ameriprise Financial, Inc. will post 34.58 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a yield of 1.44%. Ameriprise Financial’s payout ratio is 18.38%.

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.