OMERS ADMINISTRATION Corp Acquires 1,379 Shares of Ameriprise Financial, Inc. $AMP

OMERS ADMINISTRATION Corp boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 16.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,702 shares of the financial services provider’s stock after purchasing an additional 1,379 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Ameriprise Financial were worth $4,312,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SouthState Bank Corp increased its holdings in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $28,000. Ares Financial Consulting LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $32,000. Prosperity Bancshares Inc acquired a new stake in Ameriprise Financial during the fourth quarter worth approximately $33,000. Finally, WFA of San Diego LLC acquired a new stake in Ameriprise Financial during the second quarter worth approximately $36,000. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Morgan Stanley raised their price target on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Jefferies Financial Group boosted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Piper Sandler increased their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Insider Activity

In related news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director directly owned 6,300 shares in the company, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial Trading Up 1.5%

Shares of AMP stock opened at $537.01 on Tuesday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The stock’s fifty day moving average price is $477.51 and its two-hundred day moving average price is $474.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.66 and a current ratio of 0.71. The company has a market cap of $48.28 billion, a PE ratio of 12.95, a P/E/G ratio of 0.94 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the previous year, the firm earned $9.11 EPS. Ameriprise Financial’s revenue was up 11.6% on a year-over-year basis. Equities analysts predict that Ameriprise Financial, Inc. will post 43.92 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s payout ratio is currently 16.40%.

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.