AustralianSuper Pty Ltd Has $4.72 Million Position in Ameriprise Financial, Inc. $AMP

AustralianSuper Pty Ltd lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 40.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,606 shares of the financial services provider’s stock after selling 6,439 shares during the period. AustralianSuper Pty Ltd’s holdings in Ameriprise Financial were worth $4,719,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. AE Wealth Management LLC grew its holdings in shares of Ameriprise Financial by 104.2% in the 3rd quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock worth $1,946,000 after purchasing an additional 2,022 shares during the last quarter. National Pension Service boosted its position in Ameriprise Financial by 4.6% in the third quarter. National Pension Service now owns 152,980 shares of the financial services provider’s stock valued at $75,151,000 after buying an additional 6,724 shares in the last quarter. Optimize Financial Inc bought a new stake in Ameriprise Financial during the third quarter worth about $453,000. Arjuna Capital increased its holdings in shares of Ameriprise Financial by 14.6% during the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock worth $6,196,000 after buying an additional 1,610 shares in the last quarter. Finally, Candriam S.C.A. raised its stake in shares of Ameriprise Financial by 83.9% in the third quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock valued at $31,361,000 after acquiring an additional 29,116 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,052,529.98. The trade was a 55.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,658 shares of company stock valued at $8,998,675 in the last ninety days. 0.73% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their target price for the company from $434.00 to $530.00 in a research note on Friday, January 30th. BMO Capital Markets reiterated a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Argus dropped their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Trading Up 0.7%

Shares of NYSE AMP opened at $469.08 on Thursday. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $550.18. The firm has a market capitalization of $42.77 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.09 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The company’s 50 day simple moving average is $497.26 and its 200 day simple moving average is $487.61.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the company posted $9.54 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were issued 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 (DPR) is 17.60%.

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.