Winmill & CO. Inc. Acquires Shares of 21,990 Ameriprise Financial, Inc. $AMP

Winmill & CO. Inc. bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 21,990 shares of the financial services provider’s stock, valued at approximately $10,088,000. Ameriprise Financial comprises approximately 2.2% of Winmill & CO. Inc.’s investment portfolio, making the stock its 18th biggest position.

A number of other large investors have also modified their holdings of the business. Norges Bank acquired a new position in Ameriprise Financial during the fourth quarter worth about $742,438,000. AQR Capital Management LLC grew its stake in Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after acquiring an additional 496,319 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ameriprise Financial in the 2nd quarter valued at about $203,510,000. First Trust Advisors LP raised its holdings in Ameriprise Financial by 85.5% in the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock valued at $406,216,000 after acquiring an additional 381,754 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in Ameriprise Financial by 140.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after purchasing an additional 275,659 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, insider William Jerryl Williams sold 8,210 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the sale, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dawn M. Brockman sold 472 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the sale, the senior vice president directly owned 713 shares in the company, valued at approximately $398,517.09. The trade was a 39.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 29,988 shares of company stock worth $16,316,497. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Up 0.2%

NYSE AMP opened at $556.56 on Monday. The firm’s 50-day moving average is $517.67 and its two-hundred day moving average is $481.65. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $50.03 billion, a P/E ratio of 13.42, a PEG ratio of 0.74 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. The business 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 revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business earned $9.11 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Morgan Stanley increased their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Piper Sandler lifted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Finally, Jefferies Financial Group upped their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.33.

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.