Livforsakringsbolaget Skandia Omsesidigt Purchases New Position in Ameriprise Financial, Inc. $AMP

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 20,431 shares of the financial services provider’s stock, valued at approximately $9,363,000.

Other large investors also recently added to or reduced their stakes in the company. SouthState Bank Corp lifted its holdings in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 22 shares during the last quarter. Twin Lakes Capital Management LLC bought a new position in shares of Ameriprise Financial during the second quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Ameriprise Financial in the 2nd quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter valued at about $28,000. Finally, Fiduciary Financial Advisors purchased a new position in shares of Ameriprise Financial during the second quarter valued at about $30,000. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of research analyst reports. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Piper Sandler raised their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Jefferies Financial Group upped their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the company 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 issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Price Performance

NYSE AMP opened at $559.79 on Friday. The stock has a 50-day moving average of $526.87 and a 200 day moving average of $482.80. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $50.33 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56.

Ameriprise Financial (NYSE:AMP) last announced 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 net margin of 20.24% and a return on equity of 64.19%. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the business posted $9.11 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s payout ratio is currently 16.40%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 472 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the sale, the senior vice president directly owned 713 shares of the company’s stock, valued at approximately $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 11,012 shares of Ameriprise Financial stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,079,060.55. This represents a 66.25% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is owned by company insiders.

Ameriprise Financial 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.