UniSuper Management Pty Ltd Buys 2,555 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

UniSuper Management Pty Ltd boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 259.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,540 shares of the financial services provider’s stock after purchasing an additional 2,555 shares during the period. UniSuper Management Pty Ltd’s holdings in Ameriprise Financial were worth $1,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMP. Norges Bank bought a new position in Ameriprise Financial during the fourth quarter valued at approximately $514,539,000. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the period. First Trust Advisors LP lifted its position in Ameriprise Financial by 1,001.2% during the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after purchasing an additional 512,884 shares during the period. TD Asset Management Inc lifted its position in Ameriprise Financial by 151.5% during the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after purchasing an additional 358,780 shares during the period. Finally, Epoch Investment Partners Inc. lifted its position in Ameriprise Financial by 104.7% during the fourth quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock valued at $145,183,000 after purchasing an additional 195,475 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $2.67 during midday trading on Wednesday, reaching $424.06. The stock had a trading volume of 995,490 shares, compared to its average volume of 487,249. The stock has a 50-day moving average of $432.03 and a 200-day moving average of $417.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $42.12 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $449.94.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $7.25 earnings per share. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 34.91 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.40%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Analyst Ratings Changes

AMP has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Evercore ISI upped their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Piper Sandler reduced their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $460.00 to $470.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, The Goldman Sachs Group upped their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $462.89.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.