Principal Financial Group Inc. Raises Holdings in Ameriprise Financial, Inc. $AMP

Principal Financial Group Inc. lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.6% in the 2nd quarter, Holdings Channel reports. The fund owned 246,083 shares of the financial services provider’s stock after buying an additional 23,618 shares during the quarter. Principal Financial Group Inc.’s holdings in Ameriprise Financial were worth $112,893,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in AMP. Todd Asset Management LLC increased its holdings in Ameriprise Financial by 2.2% in the 2nd quarter. Todd Asset Management LLC now owns 81,063 shares of the financial services provider’s stock worth $37,189,000 after acquiring an additional 1,773 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Ameriprise Financial during the second quarter valued at about $218,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Ameriprise Financial during the second quarter valued at about $28,000. Ascent Group LLC boosted its position in Ameriprise Financial by 5.2% during the second quarter. Ascent Group LLC now owns 711 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 35 shares during the period. Finally, Elyxium Wealth LLC boosted its position in Ameriprise Financial by 178.1% during the second quarter. Elyxium Wealth LLC now owns 4,096 shares of the financial services provider’s stock worth $1,879,000 after purchasing an additional 2,623 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMP shares. Piper Sandler lifted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. 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 report on Friday, July 10th. Finally, Morgan Stanley increased 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. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial Trading Down 0.1%

Shares of AMP opened at $570.06 on Friday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56. The stock has a market cap of $51.25 billion, a PE ratio of 13.75, a P/E/G ratio of 0.77 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The business’s 50-day moving average price is $507.03 and its 200-day moving average price is $480.30.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. Ameriprise Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.11 earnings per share. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

Insider Activity

In other news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. The trade was a 41.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William Jerryl Williams sold 8,210 shares of the company’s stock in a transaction 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 directly owned 6,780 shares in the company, valued at approximately $3,656,793. The trade was a 54.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,988 shares of company stock valued at $16,316,497 in the last quarter. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Company Profile

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.