BI Asset Management Fondsmaeglerselskab A S Increases Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• BI Asset Management Fondsmaeglerselskab A S boosted its Ameriprise Financial stake by 10.6% in the first quarter, bringing its holdings to 112,718 shares valued at about $50.1 million.
• Ameriprise reported strong quarterly earnings of $11.26 per share, beating 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 an average rating of Hold with a consensus price target of $543.22.

BI Asset Management Fondsmaeglerselskab A S increased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,718 shares of the financial services provider's stock after acquiring an additional 10,824 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.12% of Ameriprise Financial worth $50,092,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AMP. Brighton Jones LLC boosted its position in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after purchasing an additional 50 shares in the last quarter. Empowered Funds LLC grew its holdings in Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock valued at $2,915,000 after purchasing an additional 634 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock valued at $312,000 after buying an additional 72 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Ameriprise Financial in the second quarter valued at $313,000. Finally, Gabelli Funds LLC raised its stake in shares of Ameriprise Financial by 224.8% during the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock worth $2,253,000 after buying an additional 2,922 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $467.97 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The company has a market capitalization of $42.07 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.99 and a beta of 1.16. The stock has a fifty day moving average of $460.13 and a two-hundred day moving average of $473.27. 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 (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $1.05. The company had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $9.50 EPS. On average, analysts anticipate that Ameriprise Financial, Inc. will post 42.69 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. Ameriprise Financial's dividend payout ratio (DPR) is 16.91%.

Insider Buying and Selling

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial 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 completion of the sale, the executive vice president directly owned 6,103 shares of the company's stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business'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 owned 6,300 shares of the company's stock, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMP has been the topic of several recent research reports. BMO Capital Markets boosted their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a report on Thursday, April 30th. Weiss Ratings upgraded shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. Piper Sandler upped their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They issued a "hold" rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $543.22.

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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