51,928 Shares in Ameriprise Financial, Inc. $AMP Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems ET Al has acquired 51,928 shares of Ameriprise Financial, Inc., valued at approximately $27.7 million, representing about 0.05% ownership of the company.
• Ameriprise Financial reported a quarterly EPS of $9.11, exceeding estimates, and achieved a revenue of $4.49 billion, up 2.2% from the previous year.
• The company's stock has seen significant changes in institutional holdings, with 83.95% of shares currently owned by institutional investors and hedge funds.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 51,928 shares of the financial services provider's stock, valued at approximately $27,716,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.05% of Ameriprise Financial at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of AMP. JPMorgan Chase & Co. raised its position in shares of Ameriprise Financial by 21.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock worth $2,819,900,000 after purchasing an additional 1,023,002 shares during the last quarter. Nuveen LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth approximately $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Ameriprise Financial by 55.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider's stock worth $1,086,724,000 after purchasing an additional 796,925 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock worth $578,852,000 after purchasing an additional 266,631 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Ameriprise Financial by 78.6% during the 1st quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider's stock worth $202,869,000 after purchasing an additional 189,525 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.5%

Shares of NYSE AMP opened at $470.03 on Monday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The firm has a fifty day moving average of $497.70 and a 200-day moving average of $501.60. The stock has a market capitalization of $44.31 billion, a PE ratio of 14.62, a P/E/G ratio of 1.05 and a beta of 1.26. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same period in the previous year, the company earned $8.72 EPS. The business's quarterly revenue was up 2.2% compared to the same quarter last year. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio is 19.91%.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research reports. William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Piper Sandler boosted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Raymond James Financial boosted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Morgan Stanley cut their price target on Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating for the company in a report on Wednesday, October 1st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $539.50.

Insiders Place Their Bets

In related news, EVP Heather J. Melloh sold 1,500 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, the chief executive officer directly owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

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.

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