TigerOak Management L.L.C. Purchases New Position in Ameriprise Financial, Inc. (NYSE:AMP)

TigerOak Management L.L.C. purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,658 shares of the financial services provider’s stock, valued at approximately $883,000.

Other hedge funds have also modified their holdings of the company. Czech National Bank raised its position in shares of Ameriprise Financial by 5.2% in the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after acquiring an additional 1,033 shares during the period. Bridgewater Associates LP raised its holdings in Ameriprise Financial by 97.8% during the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after buying an additional 24,968 shares during the period. Empowered Funds LLC raised its holdings in Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after buying an additional 1,329 shares during the period. SpiderRock Advisors LLC raised its holdings in Ameriprise Financial by 136.3% during the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock worth $1,521,000 after buying an additional 1,867 shares during the period. Finally, Aljian Capital Management LLC acquired a new stake in Ameriprise Financial during the 3rd quarter worth approximately $458,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

NYSE:AMP opened at $546.69 on Friday. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The firm has a fifty day simple moving average of $541.20 and a 200 day simple moving average of $505.21. The stock has a market capitalization of $53.03 billion, a PE ratio of 16.54, a P/E/G ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating 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%. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The stock was 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on AMP shares. Keefe, Bruyette & Woods raised 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. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler raised their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $510.44.

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.