Kentucky Retirement Systems Raises Position in Ameriprise Financial, Inc. $AMP

Kentucky Retirement Systems boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 167.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,062 shares of the financial services provider’s stock after buying an additional 10,063 shares during the period. Kentucky Retirement Systems’ holdings in Ameriprise Financial were worth $7,138,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares in the last quarter. Empowered Funds LLC raised its stake in Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after purchasing an additional 634 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 72 shares in the last quarter. Schnieders Capital Management LLC. bought a new stake in Ameriprise Financial during the second quarter valued at approximately $313,000. Finally, Gabelli Funds LLC lifted its position in Ameriprise Financial by 224.8% during the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock valued at $2,253,000 after purchasing an additional 2,922 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial News Summary

Here are the key news stories impacting Ameriprise Financial this week:

• Positive Sentiment: Zacks Research upgraded Ameriprise Financial from “Hold” to “Strong Buy,” citing improving earnings prospects. The upgrade could support investor demand for the shares. Zacks rating upgrade article
• Positive Sentiment: AMP was included on Zacks’ list of top-value stocks with a Rank #1 “Strong Buy” rating, reinforcing the view that its valuation and earnings outlook remain attractive. Zacks best value stocks article
• Positive Sentiment: A second Zacks analysis highlighted Ameriprise as a potential value investment, while a quarterly review pointed to asset growth, adviser productivity and strategic platform expansion as key business drivers. Ameriprise value stock analysis
• Neutral Sentiment: Ameriprise was recognized by J.D. Power for outstanding customer service for the fifth consecutive year. The award supports brand strength and client retention but is unlikely to materially change near-term financial forecasts. J.D. Power customer service recognition
• Negative Sentiment: Insider William Jerryl Williams sold 16,104 AMP shares across July 27–28 for approximately $8.67 million, reducing his holdings in two transactions by 42.04% and 54.77%, respectively. The sizable sales may pressure sentiment, particularly with the stock trading near its 52-week high. SEC insider transaction filing

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William Jerryl Williams sold 8,210 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the transaction, the insider owned 6,780 shares in the company, valued at $3,656,793. This represents a 54.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 23,559 shares of company stock worth $12,182,382. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AMP shares. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Jefferies Financial Group raised their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Piper Sandler lifted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Moderate Buy” and an average price target of $555.33.

Ameriprise Financial Stock Performance

NYSE AMP opened at $541.09 on Thursday. The company has a 50-day simple moving average of $480.85 and a two-hundred day simple moving average of $475.59. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $553.46. The firm has a market cap of $48.64 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.74 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the business earned $9.11 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 45.84 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial’s payout ratio is 16.40%.

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.