Ameriprise Financial, Inc. $AMP Stock Purchased by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. increased its Ameriprise Financial stake by 1,367.7% in the third quarter, holding 388,012 shares worth approximately $191 million. Institutional investors collectively own 83.95% of AMP.
• Analysts maintain a generally positive outlook, with Ameriprise carrying a consensus “Moderate Buy” rating and an average price target of $558.67, despite some neutral and underweight ratings.
• Ameriprise reported quarterly earnings of $11.07 per share, exceeding estimates, and announced a $5.5 billion share-repurchase authorization. The company also pays a $1.70 quarterly dividend, representing a 1.4% yield.

Mn Services Vermogensbeheer B.V. increased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1,367.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 388,012 shares of the financial services provider's stock after buying an additional 361,575 shares during the quarter. Ameriprise Financial accounts for approximately 1.4% of Mn Services Vermogensbeheer B.V.'s portfolio, making the stock its 14th largest holding. Mn Services Vermogensbeheer B.V. owned 0.43% of Ameriprise Financial worth $191,038,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Dorato Capital Management increased its holdings in Ameriprise Financial by 54.1% during the third quarter. Dorato Capital Management now owns 1,595 shares of the financial services provider's stock worth $785,000 after buying an additional 560 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Ameriprise Financial by 4,588.6% in the third quarter. Farther Finance Advisors LLC now owns 114,824 shares of the financial services provider's stock valued at $56,534,000 after acquiring an additional 112,375 shares during the last quarter. CoreCap Advisors LLC boosted its stake in Ameriprise Financial by 1,901.6% in the third quarter. CoreCap Advisors LLC now owns 1,281 shares of the financial services provider's stock valued at $631,000 after acquiring an additional 1,217 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Ameriprise Financial during the 3rd quarter valued at approximately $925,211,000. Finally, Apella Capital LLC grew its position in shares of Ameriprise Financial by 5,744.3% during the 3rd quarter. Apella Capital LLC now owns 48,975 shares of the financial services provider's stock valued at $24,113,000 after acquiring an additional 48,137 shares during the period. Institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bank of America reaffirmed a "buy" rating and issued a $570.00 price target on shares of Ameriprise Financial in a report on Monday. Morgan Stanley increased their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a report on Friday, July 10th. Piper Sandler raised their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. BMO Capital Markets dropped their price target on Ameriprise Financial from $560.00 to $520.00 and set a "market perform" rating on the stock in a research report on Tuesday. Finally, Zacks Research downgraded Ameriprise Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ameriprise Financial presently has an average rating of "Moderate Buy" and a consensus target price of $558.67.

Insider Buying and Selling

In related news, EVP Deirdre Mcgraw sold 2,400 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the sale, the executive vice president owned 3,373 shares of the company's stock, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William Williams sold 8,210 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the transaction, the insider owned 6,780 shares of the company's stock, valued at approximately $3,656,793. This represents a 54.77% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $498.80 on Friday. The firm's 50 day moving average is $540.34 and its 200 day moving average is $495.47. The stock has a market capitalization of $44.84 billion, a P/E ratio of 12.03, a PEG ratio of 1.01 and a beta of 1.16. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts' consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the business earned $9.11 EPS. Ameriprise Financial's revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were given a $1.70 dividend. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial's payout ratio is 16.40%.

Ameriprise Financial declared that its board has approved a share repurchase plan on Tuesday, September 29th that permits the company to repurchase $5.50 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.

Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.

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