OP Asset Management Ltd Takes Position in Ameriprise Financial, Inc. $AMP

OP Asset Management Ltd purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,790 shares of the financial services provider’s stock, valued at approximately $4,351,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Ameriprise Financial in the fourth quarter valued at about $742,438,000. AQR Capital Management LLC boosted its holdings in Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after buying an additional 496,319 shares during the last quarter. M&T Bank Corp grew its position in shares of Ameriprise Financial by 1,440.2% during the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock worth $228,572,000 after buying an additional 435,885 shares during the period. First Trust Advisors LP grew its position in shares of Ameriprise Financial by 85.5% during the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock worth $406,216,000 after buying an additional 381,754 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in shares of Ameriprise Financial by 140.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock valued at $231,805,000 after acquiring an additional 275,659 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMP. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating on the stock. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Piper Sandler increased their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Finally, BMO Capital Markets boosted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Stock Down 0.1%

AMP stock opened at $452.88 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $40.71 billion, a P/E ratio of 11.26, a P/E/G ratio of 0.96 and a beta of 1.16. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The business has a 50-day moving average of $460.54 and a 200-day moving average of $473.07.

Ameriprise Financial (NYSE:AMP) last announced 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. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.Ameriprise Financial’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $9.50 EPS. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 42.69 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

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

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

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.