National Pension Service Buys 14,222 Shares of Ameriprise Financial, Inc. $AMP
by Tristan Rich · The Markets DailyNational Pension Service raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 8.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,972 shares of the financial services provider’s stock after purchasing an additional 14,222 shares during the period. National Pension Service owned 0.21% of Ameriprise Financial worth $84,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. EP Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the second quarter valued at approximately $1,704,000. KBC Group NV raised its holdings in shares of Ameriprise Financial by 43.7% in the second quarter. KBC Group NV now owns 215,126 shares of the financial services provider’s stock worth $98,691,000 after buying an additional 65,400 shares during the period. LSV Asset Management lifted its stake in shares of Ameriprise Financial by 1.3% during the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock worth $133,381,000 after acquiring an additional 3,548 shares during the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $485,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Ameriprise Financial by 2.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 817,247 shares of the financial services provider’s stock worth $374,920,000 after acquiring an additional 22,819 shares during the last quarter. 83.95% of the stock is owned by institutional investors.
Insider Transactions at Ameriprise Financial
In related news, EVP Deirdre Mcgraw sold 2,400 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the sale, the executive vice president directly owned 3,373 shares of the company’s stock, valued at $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Walter Berman sold 11,012 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 29,988 shares of company stock valued at $16,316,497. Insiders own 0.60% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on the company. Piper Sandler upped their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Morgan Stanley lifted their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $555.33.
Get Our Latest Research Report on Ameriprise Financial
Ameriprise Financial Stock Up 0.7%
Shares of NYSE:AMP opened at $557.22 on Friday. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56. The stock has a market cap of $50.09 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 0.99 and a beta of 1.14. The business’s 50 day moving average is $544.61 and its 200 day moving average is $487.82. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.
Ameriprise Financial (NYSE:AMP – Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the company posted $9.11 EPS. Ameriprise Financial’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.
Ameriprise Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were paid a dividend of $1.70 per share. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.40%.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc (NYSE: AMP) is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.
The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.
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