Varma Mutual Pension Insurance Co Has $11.33 Million Stock Position in Ameriprise Financial, Inc. $AMP

Varma Mutual Pension Insurance Co grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 21.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,062 shares of the financial services provider’s stock after purchasing an additional 4,100 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Ameriprise Financial were worth $11,329,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 634 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Ameriprise Financial by 14.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 72 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Ameriprise Financial by 93.9% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,295 shares of the financial services provider’s stock valued at $691,000 after acquiring an additional 627 shares during the last quarter. Finally, RFG Advisory LLC raised its stake in shares of Ameriprise Financial by 2.2% in the 2nd quarter. RFG Advisory LLC now owns 2,094 shares of the financial services provider’s stock valued at $1,118,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other news, insider Gumer Alvero sold 4,658 shares of the firm’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 sale, the insider owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the transaction, the director owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. The trade was a 16.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 18,158 shares of company stock valued at $9,675,085 over the last three months. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Up 1.3%

NYSE AMP opened at $473.38 on Friday. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $552.43. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock’s 50 day moving average is $502.37 and its two-hundred day moving average is $491.20. The company has a market capitalization of $43.98 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.09 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $9.54 earnings per share. Equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be given a $1.60 dividend. The ex-dividend date is Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial’s payout ratio is 17.60%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMP. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday. Royal Bank Of Canada restated an “outperform” rating and set a $605.00 target price (up previously from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Company 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.