Charles Schwab Investment Management Inc. Increases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Charles Schwab Investment Management Inc. grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 602,317 shares of the financial services provider’s stock after buying an additional 5,048 shares during the period. Charles Schwab Investment Management Inc. owned 0.62% of Ameriprise Financial worth $320,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Howard Capital Management Group LLC boosted its holdings in shares of Ameriprise Financial by 11.1% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 178 shares during the last quarter. Stephens Inc. AR lifted its position in shares of Ameriprise Financial by 4.6% in the third quarter. Stephens Inc. AR now owns 2,145 shares of the financial services provider’s stock worth $1,008,000 after buying an additional 94 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Ameriprise Financial by 10.6% during the third quarter. Farther Finance Advisors LLC now owns 977 shares of the financial services provider’s stock valued at $459,000 after buying an additional 94 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in Ameriprise Financial during the 3rd quarter valued at approximately $219,000. Finally, Janney Montgomery Scott LLC increased its stake in Ameriprise Financial by 26.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 25,243 shares of the financial services provider’s stock worth $11,859,000 after acquiring an additional 5,271 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMP shares. Morgan Stanley increased their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Piper Sandler boosted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $509.57 on Thursday. 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 12 month low of $385.74 and a 12 month high of $582.05. The company has a market capitalization of $48.98 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.15 and a beta of 1.33. The firm’s 50-day moving average is $538.39 and its 200 day moving average is $516.69.

Ameriprise Financial (NYSE:AMP) last released its earnings results 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%. Research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.16%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction 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 trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently 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.