Ameriprise Financial, Inc. $AMP Stock Purchased by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1,367.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 388,012 shares of the financial services provider’s stock after purchasing an additional 361,575 shares during the quarter. Ameriprise Financial comprises approximately 1.4% of Mn Services Vermogensbeheer B.V.’s portfolio, making the stock its 14th largest holding. Mn Services Vermogensbeheer B.V.’s holdings in Ameriprise Financial were worth $191,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dorato Capital Management raised its position in shares of Ameriprise Financial by 54.1% in the third quarter. Dorato Capital Management now owns 1,595 shares of the financial services provider’s stock worth $785,000 after buying an additional 560 shares in the last quarter. Farther Finance Advisors LLC grew its position in Ameriprise Financial by 4,588.6% during the third quarter. Farther Finance Advisors LLC now owns 114,824 shares of the financial services provider’s stock worth $56,534,000 after buying an additional 112,375 shares in the last quarter. CoreCap Advisors LLC increased its stake in Ameriprise Financial by 1,901.6% in the 3rd quarter. CoreCap Advisors LLC now owns 1,281 shares of the financial services provider’s stock worth $631,000 after acquiring an additional 1,217 shares during the last quarter. Artemis Investment Management LLP bought a new position in Ameriprise Financial in the 3rd quarter worth about $925,211,000. Finally, Apella Capital LLC raised its holdings in shares of Ameriprise Financial by 5,744.3% in the 3rd quarter. Apella Capital LLC now owns 48,975 shares of the financial services provider’s stock valued at $24,113,000 after acquiring an additional 48,137 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 472 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William Williams sold 8,210 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the sale, the insider owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 in the last quarter. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $498.80 on Friday. The business has a 50 day moving average of $540.34 and a 200 day moving average of $495.47. The company has a market capitalization of $44.84 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.01 and a beta of 1.16. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year 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.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. The business had revenue of $4.90 billion for 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% 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 predict that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current fiscal year.

Ameriprise Financial announced that its board has authorized a share repurchase plan on Tuesday, September 29th that authorizes the company to repurchase $5.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were paid a $1.70 dividend. 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 1.4%. Ameriprise Financial’s dividend payout ratio is 16.40%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMP. Weiss Ratings upgraded Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Piper Sandler upped their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Bank of America reaffirmed a “buy” rating and issued a $570.00 target price on shares of Ameriprise Financial in a research note on Monday. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. Finally, Zacks Research cut shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $558.67.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.

Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.