Siemens Fonds Invest GmbH Sells 945 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Siemens Fonds Invest GmbH reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 30.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,190 shares of the financial services provider’s stock after selling 945 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Ameriprise Financial were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in AMP. Silvercrest Asset Management Group LLC grew its stake in shares of Ameriprise Financial by 2.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 349,450 shares of the financial services provider’s stock worth $186,058,000 after acquiring an additional 9,227 shares during the period. Rafferty Asset Management LLC raised its stake in Ameriprise Financial by 2.8% in the 4th quarter. Rafferty Asset Management LLC now owns 34,224 shares of the financial services provider’s stock valued at $18,222,000 after acquiring an additional 936 shares during the period. Raiffeisen Bank International AG purchased a new stake in Ameriprise Financial during the fourth quarter valued at about $4,482,000. ProShare Advisors LLC boosted its position in Ameriprise Financial by 10.2% during the fourth quarter. ProShare Advisors LLC now owns 20,797 shares of the financial services provider’s stock worth $11,073,000 after purchasing an additional 1,920 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of Ameriprise Financial by 31.0% in the fourth quarter. Quantinno Capital Management LP now owns 11,421 shares of the financial services provider’s stock worth $6,081,000 after purchasing an additional 2,706 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 0.9%

AMP opened at $524.06 on Friday. The firm has a market capitalization of $49.90 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a fifty day moving average price of $479.32 and a 200-day moving average price of $520.15. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter last year, the firm posted $8.39 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has initiated a stock buyback program on Thursday, April 24th that permits the company to repurchase $4.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Monday, May 5th. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s dividend payout ratio is currently 21.75%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMP. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price on the stock in a report on Monday, April 7th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Piper Sandler lifted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $517.13.

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.