4,042 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Bought by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 4,042 shares of the financial services provider’s stock, valued at approximately $2,152,000.

Other hedge funds have also recently modified their holdings of the company. Fairvoy Private Wealth LLC purchased a new position in Ameriprise Financial in the fourth quarter worth $4,220,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Ameriprise Financial by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,039 shares of the financial services provider’s stock worth $5,877,000 after acquiring an additional 133 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Ameriprise Financial by 1.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 221,911 shares of the financial services provider’s stock worth $118,152,000 after acquiring an additional 2,455 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Ameriprise Financial in the fourth quarter worth $10,066,000. Finally, Argus Investors Counsel Inc. raised its position in Ameriprise Financial by 9.2% in the fourth quarter. Argus Investors Counsel Inc. now owns 620 shares of the financial services provider’s stock worth $330,000 after acquiring an additional 52 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler increased their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $510.44.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Up 0.7 %

AMP opened at $541.99 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market cap of $52.58 billion, a P/E ratio of 16.39, a PEG ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The business’s fifty day simple moving average is $544.84 and its 200 day simple moving average is $500.82.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.68 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

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.