Illinois Municipal Retirement Fund Grows Stock Holdings in Ameriprise Financial, Inc. $AMP

Illinois Municipal Retirement Fund raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 21.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,890 shares of the financial services provider’s stock after buying an additional 3,141 shares during the period. Illinois Municipal Retirement Fund’s holdings in Ameriprise Financial were worth $8,788,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Varma Mutual Pension Insurance Co increased its stake in Ameriprise Financial by 21.6% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 23,062 shares of the financial services provider’s stock valued at $11,329,000 after purchasing an additional 4,100 shares in the last quarter. Savvy Advisors Inc. boosted its position in Ameriprise Financial by 4.8% during the third quarter. Savvy Advisors Inc. now owns 891 shares of the financial services provider’s stock worth $438,000 after purchasing an additional 41 shares in the last quarter. Cibc World Market Inc. grew its holdings in Ameriprise Financial by 7.1% in the third quarter. Cibc World Market Inc. now owns 4,750 shares of the financial services provider’s stock valued at $2,333,000 after purchasing an additional 316 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Ameriprise Financial in the third quarter valued at $2,441,000. Finally, Krilogy Financial LLC acquired a new position in shares of Ameriprise Financial during the 3rd quarter worth $369,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 1.3%

Shares of AMP opened at $473.38 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $552.43. The company has a market capitalization of $43.98 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.09 and a beta of 1.26. The stock has a fifty day moving average of $502.37 and a two-hundred day moving average of $491.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.54 earnings per share. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be issued a $1.60 dividend. The ex-dividend date is Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s payout ratio is 17.60%.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Argus lowered their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their target price for the company from $434.00 to $530.00 in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $555.67.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 18,158 shares of company stock worth $9,675,085. 0.73% of the stock is owned by 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.