VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.15 Million in Ameriprise Financial, Inc. $AMP

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,500 shares of the financial services provider’s stock, valued at approximately $1,147,000.

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

Insider Buying and Selling at Ameriprise Financial

In other news, CFO Walter Berman sold 11,012 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Williams sold 8,210 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the transaction, the insider directly owned 6,780 shares in the company, valued at approximately $3,656,793. This represents a 54.77% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AMP. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Jefferies Financial Group raised their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Weiss Ratings upgraded Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial presently has an average rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Price Performance

AMP stock opened at $557.22 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $50.09 billion, a P/E ratio of 13.44, a PEG ratio of 1.00 and a beta of 1.14. The business has a 50 day simple moving average of $544.61 and a 200-day simple moving average of $487.82. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating 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 business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the previous year, the company posted $9.11 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Announces Dividend

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

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.