Andra AP fonden Boosts Stock Holdings in Ameriprise Financial, Inc. $AMP

Andra AP fonden grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 804.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 70,518 shares of the financial services provider’s stock after purchasing an additional 62,718 shares during the period. Andra AP fonden’s holdings in Ameriprise Financial were worth $32,351,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Ameriprise Financial by 1,279.7% during the 2nd quarter. State Street Corp now owns 63,365,362 shares of the financial services provider’s stock worth $29,069,493,000 after buying an additional 58,772,775 shares in the last quarter. Wellington Altus USA Inc. lifted its holdings in Ameriprise Financial by 59.3% during the second quarter. Wellington Altus USA Inc. now owns 1,024 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 381 shares during the period. National Pension Service boosted its position in Ameriprise Financial by 8.3% in the second quarter. National Pension Service now owns 184,972 shares of the financial services provider’s stock worth $84,858,000 after purchasing an additional 14,222 shares during the last quarter. Cidel Asset Management Inc. grew its stake in Ameriprise Financial by 12.1% in the 2nd quarter. Cidel Asset Management Inc. now owns 731 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 79 shares during the period. Finally, Concorde Asset Management LLC purchased a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $202,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

Ameriprise Financial stock traded down $24.27 during mid-day trading on Tuesday, reaching $511.45. The company’s stock had a trading volume of 527,827 shares, compared to its average volume of 641,899. The firm’s fifty day moving average price is $549.69 and its two-hundred day moving average price is $491.19. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The company has a market capitalization of $45.98 billion, a P/E ratio of 12.34, a PEG ratio of 0.98 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.87 billion. During the same period last year, the company earned $9.11 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Buying and Selling

In other news, insider William Williams sold 8,210 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total value of $4,428,063.50. Following the sale, the insider directly owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Walter Berman sold 11,012 shares of the business’s 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 transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 29,988 shares of company stock valued at $16,316,497. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AMP shares. Weiss Ratings raised shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 3rd. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Finally, Piper Sandler boosted their target price on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Two research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $555.33.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc (NYSE: AMP) is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.

The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.