Nykredit A S Invests $17.04 Million in Ameriprise Financial, Inc. $AMP

Nykredit A S purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 37,136 shares of the financial services provider’s stock, valued at approximately $17,037,000.

A number of other large investors have also recently bought and sold shares of the stock. Essex Financial Services Inc. boosted its stake in shares of Ameriprise Financial by 2.4% in the 4th quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 21 shares in the last quarter. SouthState Bank Corp increased its position in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Ameriprise Financial by 5.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 23 shares during the last quarter. Optimist Retirement Group LLC lifted its holdings in Ameriprise Financial by 3.7% during the 3rd quarter. Optimist Retirement Group LLC now owns 638 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 23 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH boosted its position in Ameriprise Financial by 5.2% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 484 shares of the financial services provider’s stock valued at $237,000 after buying an additional 24 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $559.88 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $50.33 billion, a P/E ratio of 13.50, a P/E/G ratio of 1.01 and a beta of 1.14. The firm has a 50 day simple moving average of $536.22 and a 200 day simple moving average of $484.91. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.81 by $0.26. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.11 EPS. Sell-side analysts predict that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Piper Sandler raised their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Finally, Jefferies Financial Group increased their target price on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.33.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Berman sold 11,012 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Deirdre Mcgraw sold 2,400 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the transaction, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,988 shares of company stock valued at $16,316,497 in the last three months. Company insiders own 0.60% of the company’s stock.

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.