Shell Asset Management Co. Grows Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Shell Asset Management Co. lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 86.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,768 shares of the financial services provider’s stock after acquiring an additional 1,745 shares during the quarter. Shell Asset Management Co.’s holdings in Ameriprise Financial were worth $1,652,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $514,539,000. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after buying an additional 603,267 shares in the last quarter. First Trust Advisors LP grew its position in Ameriprise Financial by 1,001.2% during the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after buying an additional 512,884 shares during the period. TD Asset Management Inc increased its holdings in Ameriprise Financial by 151.5% in the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after buying an additional 358,780 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its position in shares of Ameriprise Financial by 104.7% in the fourth quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock worth $145,183,000 after acquiring an additional 195,475 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock traded up $1.40 during midday trading on Friday, reaching $443.07. The stock had a trading volume of 108,447 shares, compared to its average volume of 486,653. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $449.94. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The company’s fifty day simple moving average is $431.84 and its 200 day simple moving average is $417.28. The company has a market cap of $44.01 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 0.67 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 75.96%. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the firm posted $7.44 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 34.9 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be given a $1.48 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.34%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AMP shares. Argus raised their target price on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Jefferies Financial Group boosted their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $460.00 to $470.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Piper Sandler cut their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Finally, Evercore ISI upped their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. One investment 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $462.89.

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.