Arbejdsmarkedets Tillaegspension Boosts Stock Position in Ameriprise Financial, Inc. $AMP

Key Points

• Arbejdsmarkedets Tillaegspension increased its Ameriprise Financial stake by 16.2% in the first quarter, adding 7,895 shares to bring its total to 56,533 shares valued at about $25.1 million.
• Ameriprise reported better-than-expected quarterly earnings of $11.26 per share, topping analyst estimates, 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 Hold rating with an average price target of $548.44.

Arbejdsmarkedets Tillaegspension raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 16.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,533 shares of the financial services provider's stock after acquiring an additional 7,895 shares during the quarter. Arbejdsmarkedets Tillaegspension owned approximately 0.06% of Ameriprise Financial worth $25,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMP. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Ameriprise Financial by 5.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider's stock worth $98,388,000 after acquiring an additional 10,782 shares in the last quarter. Pensionfund Sabic bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $1,471,000. KBC Group NV raised its stake in shares of Ameriprise Financial by 12.2% during the fourth quarter. KBC Group NV now owns 150,606 shares of the financial services provider's stock valued at $73,848,000 after acquiring an additional 16,433 shares in the last quarter. LSV Asset Management raised its stake in shares of Ameriprise Financial by 1.3% during the fourth quarter. LSV Asset Management now owns 272,018 shares of the financial services provider's stock valued at $133,381,000 after acquiring an additional 3,548 shares in the last quarter. Finally, National Pension Service boosted its holdings in shares of Ameriprise Financial by 8.2% in the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider's stock valued at $81,172,000 after purchasing an additional 12,563 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Trading Up 0.2%

Shares of NYSE:AMP opened at $507.69 on Monday. The business's 50-day moving average is $464.92 and its 200 day moving average is $472.81. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The firm has a market capitalization of $45.64 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.91 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66.

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, topping 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 during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the company earned $9.50 earnings per share. The company's quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts predict that Ameriprise Financial, Inc. will post 43.5 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 annualized dividend and a yield of 1.3%. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.60. 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 the company's 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 in the company, valued at approximately $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 can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director directly owned 6,300 shares of the company's stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on AMP shares. Morgan Stanley raised their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a report on Friday. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a "hold" rating for the company. Piper Sandler increased their price target on Ameriprise Financial from $460.00 to $471.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. BMO Capital Markets raised their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Finally, Weiss Ratings downgraded Ameriprise Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of "Hold" and an average price target of $548.44.

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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