2,500 Shares in Ameriprise Financial, Inc. $AMP Purchased by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,500 shares of the financial services provider’s stock, valued at approximately $1,147,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMP. Norges Bank acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $742,438,000. AQR Capital Management LLC lifted 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 valued at $532,455,000 after buying an additional 496,319 shares during the period. First Trust Advisors LP boosted its position in Ameriprise Financial by 85.5% during the fourth quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock worth $406,216,000 after acquiring an additional 381,754 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in Ameriprise Financial by 140.5% during the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after acquiring an additional 275,659 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $119,627,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AMP shares. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Morgan Stanley raised 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. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Finally, 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 report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Stock Up 0.2%

Shares of AMP opened at $556.56 on Monday. The firm has a market cap of $50.03 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 0.74 and a beta of 1.14. The company’s fifty day moving average is $517.67 and its two-hundred day moving average is $481.65. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $9.11 EPS. Analysts forecast that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial’s payout ratio is 16.40%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. This represents a 66.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Jerryl Williams sold 8,210 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the transaction, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 in the last three months. 0.60% of the stock is currently owned by 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.