Aware Super Pty Ltd as trustee of Aware Super Purchases Shares of 74,505 Ameriprise Financial, Inc. $AMP

Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the first quarter, HoldingsChannel reports. The institutional investor purchased 74,505 shares of the financial services provider’s stock, valued at approximately $33,110,000.

Other hedge funds have also made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its position in shares of Ameriprise Financial by 5.9% in the first quarter. Illinois Municipal Retirement Fund now owns 17,474 shares of the financial services provider’s stock worth $7,765,000 after acquiring an additional 979 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Ameriprise Financial by 9.7% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,431 shares of the financial services provider’s stock valued at $9,075,000 after purchasing an additional 1,800 shares during the last quarter. SouthState Bank Corp boosted its holdings in shares of Ameriprise Financial by 110.0% in the 1st quarter. SouthState Bank Corp now owns 105 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 55 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Ameriprise Financial by 11.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,087 shares of the financial services provider’s stock valued at $483,000 after buying an additional 115 shares during the period. Finally, Hillsdale Investment Management Inc. grew its stake in shares of Ameriprise Financial by 16.2% during the 1st quarter. Hillsdale Investment Management Inc. now owns 2,440 shares of the financial services provider’s stock valued at $1,084,000 after buying an additional 340 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction on 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 transaction, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on AMP shares. Morgan Stanley upped their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Jefferies Financial Group boosted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. BMO Capital Markets raised their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $553.67.

Ameriprise Financial Stock Up 0.9%

Shares of NYSE AMP opened at $531.87 on Friday. The stock has a fifty day moving average price of $469.19 and a 200 day moving average price of $473.48. 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 12-month low of $422.37 and a 12-month high of $550.18. The company has a market cap of $47.82 billion, a P/E ratio of 13.23, a P/E/G ratio of 0.94 and a beta of 1.16.

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

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a $1.70 dividend. The ex-dividend date was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.

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.