Bryn Mawr Capital Management LLC Grows Position in Ameriprise Financial, Inc. (NYSE:AMP)

Bryn Mawr Capital Management LLC grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3,173.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,217 shares of the financial services provider’s stock after purchasing an additional 16,691 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Ameriprise Financial were worth $9,167,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Exchange Traded Concepts LLC bought a new position in Ameriprise Financial in the 3rd quarter worth approximately $108,000. Creative Planning lifted its position in shares of Ameriprise Financial by 1.6% during the third quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock worth $10,604,000 after acquiring an additional 348 shares in the last quarter. Howard Capital Management Group LLC boosted its holdings in shares of Ameriprise Financial by 11.1% in the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 178 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ameriprise Financial by 83.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 70,364 shares of the financial services provider’s stock worth $33,058,000 after acquiring an additional 32,025 shares during the period. Finally, Ledyard National Bank grew its position in shares of Ameriprise Financial by 3.2% in the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMP. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler upped 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. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Trading Up 0.3 %

Shares of AMP opened at $548.84 on Thursday. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a market capitalization of $53.24 billion, a P/E ratio of 16.60, a P/E/G ratio of 1.19 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. The firm’s 50 day simple moving average is $541.06 and its 200 day simple moving average is $508.17.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. Ameriprise Financial’s payout ratio is 17.91%.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.

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.