Board of the Pension Protection Fund Purchases Shares of 1,100 Ameriprise Financial, Inc. $AMP

Key Points

• The Pension Protection Fund acquired 1,100 shares of Ameriprise Financial, Inc., valued at approximately $587,000, in the second quarter.
• CEO William F. Truscott sold 9,929 shares of the company's stock, representing a 47.34% decrease in his ownership.
• Ameriprise Financial recently declared a quarterly dividend of $1.60, resulting in an annualized dividend yield of 1.3%.

Board of the Pension Protection Fund acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,100 shares of the financial services provider's stock, valued at approximately $587,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after purchasing an additional 50 shares during the period. Farther Finance Advisors LLC raised its holdings in Ameriprise Financial by 61.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,402 shares of the financial services provider's stock worth $685,000 after acquiring an additional 531 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Ameriprise Financial in the first quarter worth $966,000. Wealthcare Advisory Partners LLC raised its position in Ameriprise Financial by 7.6% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 470 shares of the financial services provider's stock worth $228,000 after buying an additional 33 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Ameriprise Financial by 1.9% during the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after purchasing an additional 83 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $479.75 on Friday. The stock has a market capitalization of $45.23 billion, a PE ratio of 14.93, a P/E/G ratio of 1.08 and a beta of 1.26. The business has a 50 day simple moving average of $500.39 and a two-hundred day simple moving average of $501.70. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same period last year, the company posted $8.72 EPS. The business's revenue was up 2.2% on a year-over-year basis. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is currently 19.91%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler upped their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Morgan Stanley cut their price target on Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating for the company in a research note on Wednesday, October 1st. Raymond James Financial increased their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada increased their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $539.50.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.