Narus Financial Partners LLC Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Narus Financial Partners LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 479 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other large investors have also made changes to their positions in the business. Norges Bank acquired a new stake in Ameriprise Financial in the 4th quarter worth about $514,539,000. Dimensional Fund Advisors LP boosted its stake in shares of Ameriprise Financial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock worth $385,620,000 after acquiring an additional 35,931 shares during the last quarter. Royal Bank of Canada increased its position in shares of Ameriprise Financial by 2.4% during the third quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after purchasing an additional 20,970 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Ameriprise Financial by 5.2% in 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 purchasing an additional 32,312 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in Ameriprise Financial by 151.5% in the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after purchasing an additional 358,780 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Trading Up 1.8 %

NYSE AMP opened at $433.81 on Wednesday. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $446.32. The stock has a market capitalization of $43.09 billion, a P/E ratio of 14.77, a PEG ratio of 0.73 and a beta of 1.37. The firm’s 50-day moving average is $428.75 and its two-hundred day moving average is $411.20. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share 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 net margin of 19.42% and a return on equity of 75.97%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $7.25 EPS. On average, sell-side 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. Stockholders of record on Monday, May 6th were paid a $1.48 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.36%. Ameriprise Financial’s payout ratio is presently 20.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AMP shares. Raymond James initiated coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating for the company. Evercore ISI raised their target price 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. Piper Sandler dropped their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Argus lifted their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Morgan Stanley upped their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $456.22.

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.