Livforsakringsbolaget Skandia Omsesidigt Raises Position in Ameriprise Financial, Inc. $AMP

Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.7% during the first quarter, HoldingsChannel reports. The fund owned 20,431 shares of the financial services provider’s stock after acquiring an additional 1,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Ameriprise Financial were worth $9,075,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Ameriprise Financial by 0.4% in the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after purchasing an additional 18,879 shares during the period. Norges Bank acquired a new position in Ameriprise Financial during the 4th quarter worth approximately $742,438,000. Boston Partners increased its position in Ameriprise Financial by 1.1% during the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock worth $586,083,000 after purchasing an additional 13,172 shares during the period. AQR Capital Management LLC raised its stake in shares of Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after buying an additional 496,319 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Ameriprise Financial by 0.7% during the 4th quarter. Federated Hermes Inc. now owns 973,097 shares of the financial services provider’s stock worth $477,148,000 after buying an additional 6,934 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $518.65 on Wednesday. The business’s 50 day simple moving average is $466.68 and its 200-day simple moving average is $473.08. The firm has a market capitalization of $46.63 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 0.93 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the firm posted $9.50 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 43.5 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.3%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s dividend payout ratio is currently 16.91%.

Wall Street Analyst Weigh In

AMP has been the subject of several recent analyst reports. Morgan Stanley raised their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Jefferies Financial Group upped their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating on the stock. BMO Capital Markets boosted their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Piper Sandler upped their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $553.67.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the sale, the director owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by corporate insiders.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.