National Pension Service Purchases 12,563 Shares of Ameriprise Financial, Inc. $AMP

National Pension Service lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 8.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 165,543 shares of the financial services provider’s stock after purchasing an additional 12,563 shares during the quarter. National Pension Service’s holdings in Ameriprise Financial were worth $81,172,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. AE Wealth Management LLC grew its holdings in Ameriprise Financial by 104.2% during the 3rd quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock worth $1,946,000 after acquiring an additional 2,022 shares during the last quarter. Optimize Financial Inc bought a new stake in Ameriprise Financial during the 3rd quarter worth about $453,000. Arjuna Capital grew its holdings in Ameriprise Financial by 14.6% during the 3rd quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock worth $6,196,000 after acquiring an additional 1,610 shares during the last quarter. Candriam S.C.A. grew its holdings in Ameriprise Financial by 83.9% during the 3rd quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock worth $31,361,000 after acquiring an additional 29,116 shares during the last quarter. Finally, Mediolanum International Funds Ltd grew its holdings in Ameriprise Financial by 23.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 47,758 shares of the financial services provider’s stock worth $23,859,000 after acquiring an additional 8,927 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on AMP. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Weiss Ratings lowered shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Finally, Piper Sandler increased their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $543.22.

Ameriprise Financial Stock Up 1.4%

Shares of NYSE AMP opened at $445.94 on Friday. The firm has a market capitalization of $40.09 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.05 and a beta of 1.20. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The firm’s 50-day moving average is $455.29 and its 200-day moving average is $472.95.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $1.05. The company had revenue of $4.77 billion for 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 revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $9.50 EPS. Equities analysts expect that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $1.70 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is 16.91%.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by company 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.