North Dakota State Investment Board Takes Position in Ameriprise Financial, Inc. $AMP

North Dakota State Investment Board acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 3,278 shares of the financial services provider’s stock, valued at approximately $1,607,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PFG Investments LLC raised its position in shares of Ameriprise Financial by 1.4% during the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock valued at $729,000 after buying an additional 21 shares during the last quarter. Institute for Wealth Management LLC. raised its position in shares of Ameriprise Financial by 3.6% during the fourth quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock valued at $297,000 after buying an additional 21 shares during the last quarter. EPG Wealth Management LLC raised its position in shares of Ameriprise Financial by 0.8% during the fourth quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after buying an additional 21 shares during the last quarter. UMB Bank n.a. raised its position in shares of Ameriprise Financial by 0.8% during the third quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock valued at $1,504,000 after buying an additional 23 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Ameriprise Financial by 5.4% during the second quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock valued at $239,000 after buying an additional 23 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 1.6%

Shares of AMP opened at $463.56 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The company’s fifty day moving average is $454.46 and its 200 day moving average is $473.40. The stock has a market capitalization of $41.67 billion, a PE ratio of 11.53, a P/E/G ratio of 1.11 and a beta of 1.20. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the firm earned $9.50 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts expect that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be issued a $1.70 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date is Monday, May 4th. This represents a $6.80 annualized dividend and a yield of 1.5%. Ameriprise Financial’s dividend payout ratio is currently 16.91%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMP. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating on the stock. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Piper Sandler boosted their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $543.22.

Insider Buying and Selling

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