Ameriprise Financial, Inc. (NYSE:AMP) Position Raised by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,158 shares of the financial services provider’s stock after acquiring an additional 630 shares during the period. Wellington Management Group LLP’s holdings in Ameriprise Financial were worth $2,339,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $514,539,000. Dimensional Fund Advisors LP increased its position in Ameriprise Financial by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock valued at $385,620,000 after acquiring an additional 35,931 shares during the period. Royal Bank of Canada raised its stake in Ameriprise Financial by 2.4% during the 3rd quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock valued at $294,979,000 after acquiring an additional 20,970 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Ameriprise Financial by 5.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock valued at $247,786,000 after acquiring an additional 32,312 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in Ameriprise Financial by 151.5% during the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after acquiring an additional 358,780 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.7 %

Shares of Ameriprise Financial stock opened at $427.19 on Monday. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $446.32. The firm has a market capitalization of $42.43 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 0.73 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 stock’s fifty day moving average is $428.66 and its 200-day moving average is $410.88.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the previous year, the company earned $7.25 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts anticipate that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were paid a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMP shares. Raymond James initiated coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating on the stock. Evercore ISI upped their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group upped their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Finally, Piper Sandler lowered their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $456.22.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Company 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.