Zurcher Kantonalbank Zurich Cantonalbank Purchases 888 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,515 shares of the financial services provider’s stock after acquiring an additional 888 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ameriprise Financial were worth $14,629,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its position in Ameriprise Financial by 106,308.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock worth $494,335,000 after buying an additional 1,586,121 shares in the last quarter. Norges Bank purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth about $389,527,000. Nuveen Asset Management LLC grew its position in shares of Ameriprise Financial by 29.7% during the second quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock worth $555,952,000 after purchasing an additional 382,811 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Ameriprise Financial by 123.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 498,824 shares of the financial services provider’s stock worth $155,318,000 after purchasing an additional 275,720 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Ameriprise Financial by 33.5% during the first quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock worth $324,031,000 after purchasing an additional 270,755 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other news, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the transaction, the chief executive officer now directly owns 12,126 shares in the company, valued at approximately $4,731,807.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William F. Truscott sold 8,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the transaction, the chief executive officer now directly owns 13,134 shares in the company, valued at approximately $5,411,864.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William F. Truscott sold 9,689 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the transaction, the chief executive officer now owns 12,126 shares in the company, valued at $4,731,807.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,161 shares of company stock worth $35,560,647. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $412.63 on Friday. Ameriprise Financial, Inc. has a 52-week low of $279.85 and a 52-week high of $440.67. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $41.34 billion, a P/E ratio of 17.40, a P/E/G ratio of 0.68 and a beta of 1.36. The stock has a 50 day moving average price of $416.48 and a 200 day moving average price of $377.00.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, topping the consensus estimate of $7.67 by $0.08. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.90 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. Ameriprise Financial’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $6.94 EPS. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were issued a $1.35 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.31%. Ameriprise Financial’s dividend payout ratio is presently 22.78%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler increased their target price on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. UBS Group raised their price target on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Raymond James initiated coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating for the company. Royal Bank of Canada raised their price target on Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Finally, Evercore ISI raised their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $441.00.

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.