Pictet Asset Management Holding SA Grows Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Pictet Asset Management Holding SA boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 13.0% in the 4th quarter, Holdings Channel reports. The firm owned 65,461 shares of the financial services provider’s stock after purchasing an additional 7,510 shares during the period. Pictet Asset Management Holding SA’s holdings in Ameriprise Financial were worth $34,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at $26,000. Whipplewood Advisors LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth about $28,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on AMP. Royal Bank of Canada reissued 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 cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler increased 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. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $514.89.

Ameriprise Financial Stock Down 3.4 %

AMP stock opened at $481.64 on Monday. The stock has a market cap of $46.29 billion, a P/E ratio of 14.57, a PEG ratio of 1.15 and a beta of 1.33. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company’s 50 day moving average is $524.55 and its two-hundred day moving average is $523.67.

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

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction that occurred 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 directly 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 disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock worth $6,263,989 in the last quarter. 0.73% of the stock is owned by 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.