Munich Reinsurance Co Stock Corp in Munich Has $13.41 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Munich Reinsurance Co Stock Corp in Munich grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 37.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,232 shares of the financial services provider’s stock after buying an additional 7,916 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Ameriprise Financial were worth $13,410,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. SouthState Bank Corp grew its position in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares during the period. Twin Lakes Capital Management LLC bought a new position in shares of Ameriprise Financial during the 2nd quarter worth approximately $25,000. Cassaday & Co Wealth Management LLC purchased a new position in Ameriprise Financial in the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial in the 2nd quarter worth about $28,000. Finally, Fiduciary Financial Advisors bought a new position in shares of Ameriprise Financial during the 2nd quarter valued at approximately $30,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling 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 transaction, the executive vice president owned 3,373 shares in the company, valued at $1,883,078.44. The trade was a 41.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Walter Berman sold 11,012 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the sale, 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 over the last three months. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AMP shares. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Weiss Ratings upgraded Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $559.88 on Friday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56. 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 firm’s fifty day simple moving average is $536.22 and its 200 day simple moving average is $484.91. The stock has a market cap of $50.33 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the firm earned $9.11 earnings per share. Ameriprise Financial’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Dividend Announcement

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