Allianz SE Makes New $138,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Allianz SE bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 260 shares of the financial services provider’s stock, valued at approximately $138,000.

A number of other institutional investors have also recently modified their holdings of AMP. JPMorgan Chase & Co. boosted its position in Ameriprise Financial by 12.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock worth $2,556,683,000 after purchasing an additional 516,437 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ameriprise Financial by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after buying an additional 31,158 shares during the period. Norges Bank purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $689,272,000. Amundi grew its stake in Ameriprise Financial by 48.0% in the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after acquiring an additional 208,195 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Ameriprise Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock worth $320,692,000 after acquiring an additional 5,048 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

AMP stock opened at $484.54 on Tuesday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $46.57 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The business has a 50 day simple moving average of $523.21 and a 200-day simple moving average of $524.01.

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

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value 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 represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % 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 valued at $6,263,989 over the last ninety days. Company insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMP. Keefe, Bruyette & Woods increased their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler raised their target price 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 target 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. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $514.89.

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.