Johnson Financial Group Inc. Takes $4.58 Million Position in Ameriprise Financial, Inc. $AMP

Johnson Financial Group Inc. purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 9,972 shares of the financial services provider’s stock, valued at approximately $4,575,000.

Other hedge funds have also modified their holdings of the company. State Street Corp boosted its position in Ameriprise Financial by 0.4% in the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after buying an additional 18,879 shares during the last quarter. Norges Bank acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $742,438,000. Boston Partners raised its position in shares of Ameriprise Financial by 1.1% during the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after acquiring an additional 13,172 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after purchasing an additional 496,319 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Ameriprise Financial by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock valued at $455,387,000 after buying an additional 19,731 shares during the period. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

AMP has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Piper Sandler increased their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. BMO Capital Markets lifted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and an average price target of $555.33.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the sale, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Walter Stanley Berman sold 11,012 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,988 shares of company stock worth $16,316,497 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Down 0.3%

AMP opened at $560.71 on Thursday. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. The stock’s fifty day simple moving average is $513.75 and its 200 day simple moving average is $481.33. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The stock has a market cap of $50.41 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 0.76 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the previous year, the business posted $9.11 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts expect that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s payout ratio is presently 16.40%.

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.