Tredje AP fonden Purchases 15,100 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Tredje AP fonden boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 61.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,558 shares of the financial services provider’s stock after acquiring an additional 15,100 shares during the period. Tredje AP fonden’s holdings in Ameriprise Financial were worth $16,899,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Ameriprise Financial by 4.0% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,263 shares of the financial services provider’s stock valued at $1,394,000 after purchasing an additional 124 shares during the period. Mercer Global Advisors Inc. ADV increased its position in Ameriprise Financial by 36.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 26,805 shares of the financial services provider’s stock valued at $11,451,000 after purchasing an additional 7,156 shares during the period. Mutual of America Capital Management LLC raised its holdings in Ameriprise Financial by 6.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 30,234 shares of the financial services provider’s stock worth $12,916,000 after purchasing an additional 1,715 shares in the last quarter. Perennial Investment Advisors LLC lifted its position in shares of Ameriprise Financial by 17.5% in the 2nd quarter. Perennial Investment Advisors LLC now owns 639 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 95 shares during the period. Finally, Virtu Financial LLC boosted its stake in shares of Ameriprise Financial by 25.8% during the 2nd quarter. Virtu Financial LLC now owns 7,609 shares of the financial services provider’s stock valued at $3,250,000 after purchasing an additional 1,559 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.73% of the stock is owned by insiders.

Ameriprise Financial Stock Up 1.6 %

Shares of Ameriprise Financial stock opened at $452.36 on Wednesday. The company has a 50-day simple moving average of $429.17 and a two-hundred day simple moving average of $427.73. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $453.99. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $44.93 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the business posted $7.44 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. On average, analysts anticipate that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.31%. Ameriprise Financial’s payout ratio is 20.15%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Piper Sandler lowered their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Morgan Stanley reduced their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Finally, UBS Group dropped their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $464.33.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.