Andra AP fonden Purchases New Stake in Ameriprise Financial, Inc. $AMP

Andra AP fonden purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,800 shares of the financial services provider’s stock, valued at approximately $3,466,000.

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

Ameriprise Financial Trading Down 0.3%

Shares of Ameriprise Financial stock opened at $526.80 on Thursday. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The stock’s 50-day simple moving average is $474.03 and its 200 day simple moving average is $474.45. The stock has a market capitalization of $47.36 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.94 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $9.50 earnings per share. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 43.74 EPS for the current year.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, 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 sale, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial 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 completion of the transaction, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMP. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. Piper Sandler lifted their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Morgan Stanley increased their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. Finally, Jefferies Financial Group raised their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $553.67.

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.