BI Asset Management Fondsmaeglerselskab A S Grows Stock Position in Ameriprise Financial, Inc. $AMP

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Ameriprise Financial by 8.8% in the fourth quarter, ending with 101,894 shares valued at about $49.96 million.
• Ameriprise posted strong quarterly results, with EPS of $11.26 beating analyst estimates, though revenue of $4.77 billion came in slightly below expectations. The company also raised its quarterly dividend to $1.70 per share, up from $1.60.
• Analyst sentiment remains mixed: Ameriprise has an average Hold rating and a consensus price target of $543.22, while recent insider sales by an EVP and a director reduced their holdings.

BI Asset Management Fondsmaeglerselskab A S grew its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,894 shares of the financial services provider's stock after acquiring an additional 8,218 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned about 0.11% of Ameriprise Financial worth $49,963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Candriam S.C.A. boosted its position in Ameriprise Financial by 83.9% during the third quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider's stock valued at $31,361,000 after buying an additional 29,116 shares during the period. Midwest Trust Co raised its stake in shares of Ameriprise Financial by 2.3% during the third quarter. Midwest Trust Co now owns 111,048 shares of the financial services provider's stock valued at $54,552,000 after acquiring an additional 2,529 shares during the last quarter. Canada Post Corp Registered Pension Plan raised its stake in shares of Ameriprise Financial by 275.6% during the third quarter. Canada Post Corp Registered Pension Plan now owns 5,915 shares of the financial services provider's stock valued at $2,955,000 after acquiring an additional 4,340 shares during the last quarter. NEOS Investment Management LLC raised its stake in shares of Ameriprise Financial by 45.5% during the third quarter. NEOS Investment Management LLC now owns 12,272 shares of the financial services provider's stock valued at $6,029,000 after acquiring an additional 3,838 shares during the last quarter. Finally, Pensionfund Sabic bought a new position in shares of Ameriprise Financial during the fourth quarter valued at about $1,471,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

Shares of AMP opened at $455.89 on Friday. The stock has a market cap of $40.98 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.07 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The firm's 50-day simple moving average is $455.93 and its two-hundred day simple moving average is $472.49.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating analysts' consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the prior year, the company posted $9.50 earnings per share. The business's revenue for the quarter was up 9.7% on a year-over-year basis. Analysts anticipate that Ameriprise Financial, Inc. will post 42.63 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. Investors of record on Monday, May 4th were issued a $1.70 dividend. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, May 4th. Ameriprise Financial's dividend payout ratio is 16.91%.

Insider Activity at Ameriprise Financial

In related news, EVP Gerard P. Smyth sold 6,255 shares of the firm'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 value of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. 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 that occurred 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 sale, the director owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

AMP has been the subject of several recent analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a "hold" rating for the company. BMO Capital Markets upped their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research note on Thursday, April 30th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Finally, Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a "strong-buy" rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and an average price target of $543.22.

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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