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

Syon Capital LLC lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,783 shares of the financial services provider’s stock after buying an additional 90 shares during the quarter. Syon Capital LLC’s holdings in Ameriprise Financial were worth $677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Venture Visionary Partners LLC boosted its position in Ameriprise Financial by 2.9% during the fourth quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock worth $5,650,000 after acquiring an additional 416 shares during the last quarter. 17 Capital Partners LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth $2,078,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Ameriprise Financial by 0.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock worth $5,166,000 after purchasing an additional 73 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Ameriprise Financial by 3.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock valued at $42,238,000 after purchasing an additional 4,203 shares during the period. Finally, Cerity Partners LLC increased its stake in Ameriprise Financial by 280.6% in the fourth quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock valued at $11,585,000 after purchasing an additional 22,487 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMP shares. Argus boosted their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Evercore ISI increased 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. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Raymond James started coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. Finally, Morgan Stanley lifted 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $450.88.

Ameriprise Financial Stock Down 0.7 %

Shares of Ameriprise Financial stock traded down $3.05 on Friday, hitting $423.86. 248,941 shares of the company’s stock traded hands, compared to its average volume of 423,278. 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’s 50-day moving average is $425.26 and its 200 day moving average is $405.00. The stock has a market cap of $42.10 billion, a P/E ratio of 14.43, a PEG ratio of 0.72 and a beta of 1.36. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $442.79.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.29. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $7.25 EPS. 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 issued a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.40%. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the transaction, the insider now directly owns 6,994 shares in the company, valued at approximately $3,056,378. The disclosure for this sale can be found here. Insiders have sold 3,376 shares of company stock worth $1,476,274 over the last quarter. 0.73% of the stock is owned by corporate insiders.

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.