Ameriprise Financial, Inc. $AMP Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its Ameriprise Financial stake by 2,380.8% in the fourth quarter, ending with 18,631 shares worth about $9.1 million.
• Ameriprise reported strong quarterly earnings of $11.26 per share, topping estimates by $1.05, while revenue rose 9.7% year over year to $4.77 billion.
• The company raised its quarterly dividend to $1.70 per share from $1.60, and analysts currently have a consensus rating of Hold with an average price target of $543.22.

Livforsakringsbolaget Skandia Omsesidigt lifted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2,380.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,631 shares of the financial services provider's stock after acquiring an additional 17,880 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Ameriprise Financial were worth $9,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in AMP. Norges Bank acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $742,438,000. M&T Bank Corp boosted its stake in shares of Ameriprise Financial by 1,440.2% in the fourth quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider's stock worth $228,572,000 after acquiring an additional 435,885 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Ameriprise Financial by 140.5% in the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider's stock worth $231,805,000 after acquiring an additional 275,659 shares during the last quarter. Man Group plc boosted its stake in Ameriprise Financial by 687.4% during the third quarter. Man Group plc now owns 276,822 shares of the financial services provider's stock worth $135,989,000 after buying an additional 241,665 shares during the last quarter. Finally, Close Asset Management Ltd boosted its stake in Ameriprise Financial by 78.2% during the third quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider's stock worth $227,652,000 after buying an additional 203,252 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $455.46 on Friday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18. The business's fifty day simple moving average is $455.85 and its 200-day simple moving average is $472.60. The firm has a market cap of $40.95 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90.

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

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $1.70 dividend. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial's dividend payout ratio is currently 16.91%.

Analyst Ratings Changes

A number of equities analysts have weighed in on AMP shares. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research note on Friday, April 10th. They set a "hold" rating on the stock. BMO Capital Markets boosted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. Weiss Ratings lowered Ameriprise Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 27th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the stock a "strong-buy" rating in a research note on Wednesday, February 11th. Finally, Piper Sandler boosted their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $543.22.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of the company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value 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. This represents a 50.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company's stock.

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.

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