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

Royal London Asset Management Ltd. boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 43,781 shares of the financial services provider’s stock after buying an additional 2,545 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Ameriprise Financial were worth $23,310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in AMP. Howard Capital Management Group LLC grew its position in Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after buying an additional 178 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Ameriprise Financial by 11.1% in the third quarter. Advisors Asset Management Inc. now owns 1,888 shares of the financial services provider’s stock worth $887,000 after purchasing an additional 188 shares during the period. Moors & Cabot Inc. bought a new position in shares of Ameriprise Financial in the third quarter worth approximately $208,000. Massachusetts Financial Services Co. MA boosted its position in shares of Ameriprise Financial by 5.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 227,406 shares of the financial services provider’s stock worth $106,838,000 after purchasing an additional 11,441 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of Ameriprise Financial by 33.5% in the third quarter. Pacer Advisors Inc. now owns 19,067 shares of the financial services provider’s stock worth $8,958,000 after purchasing an additional 4,780 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $493.41 on Friday. The firm has a market cap of $47.43 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 1.15 and a beta of 1.33. The firm has a fifty day moving average price of $528.03 and a 200 day moving average price of $520.24. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMP. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Morgan Stanley upped their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $514.89.

Insider Activity at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 over the last 90 days. 0.73% of the stock is owned by corporate insiders.

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.