3,278 Shares in Ameriprise Financial, Inc. $AMP Purchased by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board initiated a new position in Ameriprise Financial, buying 3,278 shares valued at about $1.61 million in the fourth quarter.
• Ameriprise reported strong quarterly earnings, with EPS of $11.26 topping estimates by $1.05 and revenue rising 9.7% year over year, even though revenue came in slightly below consensus.
• The company raised its quarterly dividend to $1.70 per share from $1.60, bringing the annualized payout to $6.80 and the yield to about 1.5%.

North Dakota State Investment Board purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,278 shares of the financial services provider's stock, valued at approximately $1,607,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at about $30,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $32,000. Ares Financial Consulting LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $32,000. WFA of San Diego LLC purchased a new stake in shares of Ameriprise Financial during the 2nd quarter valued at about $36,000. Finally, Activest Wealth Management boosted its holdings in shares of Ameriprise Financial by 777.8% during the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Performance

AMP opened at $463.56 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $550.18. The company has a market cap of $41.67 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.11 and a beta of 1.20. The company's 50 day moving average is $454.46 and its 200 day moving average is $473.40.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the firm earned $9.50 earnings per share. The company's revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a dividend of $1.70 per share. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, May 4th. Ameriprise Financial's payout ratio is presently 16.91%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial 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 transaction, the executive vice president owned 6,103 shares of the company's stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director directly owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMP. BMO Capital Markets raised their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Piper Sandler raised their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They issued a "hold" rating on the stock. Finally, Morgan Stanley raised their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an "underweight" rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $543.22.

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.

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