Canada Pension Plan Investment Board bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm bought 307,775 shares of the financial services provider’s stock, valued at approximately $141,195,000.
Several other hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Ameriprise Financial by 5.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock valued at $98,388,000 after buying an additional 10,782 shares in the last quarter. National Pension Service increased its stake in Ameriprise Financial by 8.2% during the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock worth $81,172,000 after buying an additional 12,563 shares in the last quarter. LSV Asset Management increased its stake in Ameriprise Financial by 1.3% during the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock worth $133,381,000 after buying an additional 3,548 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $72,050,000. Finally, D.A. Davidson & CO. raised its holdings in shares of Ameriprise Financial by 116.5% during the fourth quarter. D.A. Davidson & CO. now owns 13,380 shares of the financial services provider’s stock valued at $6,561,000 after acquiring an additional 7,200 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on AMP. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Keefe, Bruyette & Woods lifted their target price 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. Morgan Stanley upped their target price 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. Finally, Piper Sandler increased their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $555.33.
Insider Activity
In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,012 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. The trade was a 66.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Dawn M. Brockman sold 472 shares of the 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 trade represents a 39.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,988 shares of company stock valued at $16,316,497 in the last ninety days. 0.60% of the stock is currently owned by company insiders.
Ameriprise Financial Price Performance
AMP stock opened at $561.04 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The firm has a market capitalization of $50.44 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50 day simple moving average of $523.27 and a 200-day simple moving average of $482.17.
Ameriprise Financial (NYSE:AMP – Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the business earned $9.11 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.
Ameriprise Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were issued a $1.70 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio is currently 16.40%.
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.
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