Royal London Asset Management Ltd. Purchases 2,545 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Royal London Asset Management Ltd. grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,781 shares of the financial services provider’s stock after purchasing an additional 2,545 shares during the period. Royal London Asset Management Ltd.’s holdings in Ameriprise Financial were worth $23,310,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 9.1% during the 3rd 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. Geode Capital Management LLC boosted its stake in shares of Ameriprise Financial by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after purchasing an additional 31,158 shares in the last quarter. Amundi boosted its stake in shares of Ameriprise Financial by 48.0% during the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after purchasing an additional 208,195 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Ameriprise Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock valued at $320,692,000 after purchasing an additional 5,048 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Ameriprise Financial by 429.0% during the 4th 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 purchasing an additional 338,298 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.1 %

Shares of Ameriprise Financial stock opened at $493.41 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $47.43 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a 50-day simple moving average of $528.03 and a two-hundred day simple moving average of $520.24.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.20%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 over the last three months. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler lifted 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. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $514.89.

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.