Korea Investment CORP Has $44.16 Million Stock Position in Ameriprise Financial, Inc. $AMP

Korea Investment CORP raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 15.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 89,884 shares of the financial services provider’s stock after buying an additional 11,906 shares during the quarter. Korea Investment CORP’s holdings in Ameriprise Financial were worth $44,156,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Winnow Wealth LLC acquired a new position in shares of Ameriprise Financial during the second quarter worth approximately $32,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $32,000. WFA of San Diego LLC bought a new position in Ameriprise Financial in the 2nd quarter worth approximately $36,000. Finally, Salomon & Ludwin LLC raised its position in Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 43 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of recent research reports. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Argus cut their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. One research 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.com, the company has a consensus rating of “Hold” and an average target price of $555.67.

Ameriprise Financial Stock Down 1.7%

Shares of Ameriprise Financial stock opened at $464.84 on Monday. The company has a market capitalization of $42.38 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.08 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 business has a 50-day moving average of $495.95 and a two-hundred day moving average of $486.96. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $550.18.

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

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date of this dividend was 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 presently 17.60%.

Insider Activity

In other news, 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 value of $3,809,540.00. Following the completion of the transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock worth $8,998,675 over the last quarter. 0.73% of the stock is currently owned by company 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.