Arbejdsmarkedets Tillaegspension Buys New Shares in Ameriprise Financial, Inc. $AMP

Key Points

• Arbejdsmarkedets Tillaegspension disclosed a new fourth-quarter stake in Ameriprise Financial, buying 48,638 shares worth about $23.85 million and representing roughly 0.05% of the company.
• Ameriprise Financial’s latest quarterly results beat EPS expectations, reporting $11.26 per share versus $10.21 expected, while revenue rose 9.7% year over year to $4.77 billion.
• The company also raised its quarterly dividend to $1.70 per share from $1.60, and analysts currently rate the stock a consensus “Hold” with an average price target of $543.22.

Arbejdsmarkedets Tillaegspension bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 48,638 shares of the financial services provider's stock, valued at approximately $23,849,000. Arbejdsmarkedets Tillaegspension owned approximately 0.05% of Ameriprise Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Holos Integrated Wealth LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth $30,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 3rd quarter worth $32,000. Ares Financial Consulting LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth $32,000. WFA of San Diego LLC purchased a new stake in Ameriprise Financial in the 2nd quarter worth $36,000. Finally, Activest Wealth Management lifted its stake in Ameriprise Financial by 777.8% in the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider's stock worth $39,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMP. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a "hold" rating on the stock. BMO Capital Markets boosted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an "underweight" rating in a research note on Thursday, April 30th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Finally, Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $543.22.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company's stock in a transaction dated 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 approximately $2,934,729. This represents a 16.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company's stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $472.04 on Friday. The company's 50-day moving average price is $454.48 and its 200-day moving average price is $473.69. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a market cap of $42.44 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 1.11 and a beta of 1.20.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts' consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $9.50 EPS. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 42.44 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, May 4th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.60. Ameriprise Financial's payout ratio is currently 16.91%.

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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