Korea Investment CORP Buys 11,906 Shares of Ameriprise Financial, Inc. $AMP

Korea Investment CORP grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 15.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,884 shares of the financial services provider’s stock after purchasing an additional 11,906 shares during the period. Korea Investment CORP owned about 0.10% of Ameriprise Financial worth $44,156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Ameriprise Financial in the third quarter valued at about $9,678,000. Ameriflex Group Inc. grew its position in Ameriprise Financial by 200.0% during the third quarter. Ameriflex Group Inc. now owns 354 shares of the financial services provider’s stock worth $174,000 after buying an additional 236 shares in the last quarter. First Trust Advisors LP increased its stake in Ameriprise Financial by 8.2% during the third quarter. First Trust Advisors LP now owns 446,683 shares of the financial services provider’s stock valued at $219,433,000 after acquiring an additional 33,717 shares during the period. Aptus Capital Advisors LLC increased its stake in Ameriprise Financial by 2.3% during the third quarter. Aptus Capital Advisors LLC now owns 1,090 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 24 shares during the period. Finally, One Wealth Capital Management LLC raised its holdings in Ameriprise Financial by 5.5% in the 3rd quarter. One Wealth Capital Management LLC now owns 692 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 36 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 1.7%

Shares of AMP stock opened at $464.84 on Monday. The company has a market capitalization of $42.38 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.08 and a beta of 1.27. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $495.95 and a 200 day moving average price of $486.96.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.54 earnings per share. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were given a dividend of $1.60 per share. The ex-dividend date was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio is 17.60%.

Insider Buying and Selling

In related news, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This trade represents a 29.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,658 shares of company stock worth $8,998,675 in the last three months. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on AMP shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Morgan Stanley boosted their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, Argus decreased 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 note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $555.67.

About Ameriprise Financial

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.