2,602 Shares in Ameriprise Financial, Inc. $AMP Purchased by EFG International AG

EFG International AG acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,602 shares of the financial services provider’s stock, valued at approximately $1,194,000.

Several other hedge funds also recently bought and sold shares of AMP. Norges Bank acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at $742,438,000. Legal & General Group Plc acquired a new stake in Ameriprise Financial during the 2nd quarter worth approximately $262,687,000. AQR Capital Management LLC lifted its holdings 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 worth $532,455,000 after buying an additional 496,319 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ameriprise Financial in the 2nd quarter valued at approximately $203,510,000. Finally, First Trust Advisors LP boosted its position 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 buying an additional 381,754 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the topic of a number of recent research reports. Piper Sandler upped 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 upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Jefferies Financial Group boosted their target price on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Morgan Stanley upped their price target on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Finally, Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $555.33.

Insiders Place Their Bets

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

Ameriprise Financial Trading Up 0.1%

NYSE AMP opened at $561.04 on Thursday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The firm has a 50 day moving average of $523.27 and a two-hundred day moving average of $482.17. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $50.44 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $9.11 EPS. As a group, research analysts expect that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

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.