Delta Global Management LP Invests $2.50 Million in Ameriprise Financial, Inc. $AMP

Key Points

• Delta Global Management LP purchased a new stake of 5,081 shares in Ameriprise Financial (NYSE:AMP) during Q3, valued at approximately $2.50 million.
• Other large institutional moves include Norges Bank adding a new stake worth about $693.7 million and JPMorgan increasing its holdings to 6,270,995 shares (≈$3.35 billion), leaving institutions with roughly 83.95% of the stock.
• Insiders sold 16,658 shares (~$9.0 million) over the last quarter—including CFO Walter Stanley Berman's sale of 7,000 shares—and analysts carry a consensus "Hold" rating with an average price target of $555.67.

Delta Global Management LP purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,081 shares of the financial services provider's stock, valued at approximately $2,496,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Ameriprise Financial in the second quarter valued at approximately $693,736,000. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 7.7% during the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider's stock worth $3,347,019,000 after buying an additional 446,080 shares in the last quarter. Man Group plc lifted its stake in shares of Ameriprise Financial by 687.4% in the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider's stock valued at $135,989,000 after acquiring an additional 241,665 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Ameriprise Financial by 29.3% in the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider's stock valued at $474,628,000 after acquiring an additional 219,080 shares during the last quarter. Finally, Close Asset Management Ltd boosted its holdings in shares of Ameriprise Financial by 78.2% during the 3rd quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider's stock valued at $227,652,000 after acquiring an additional 203,252 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 7,000 shares of the business's stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of the company's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. This trade represents a 50.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,658 shares of company stock valued at $8,998,675 over the last quarter. Insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

AMP has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the stock an "underweight" rating in a research report on Monday, December 22nd. Jefferies Financial Group lifted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Weiss Ratings restated a "buy (b-)" rating on shares of Ameriprise Financial in a report on Monday, December 29th. Piper Sandler upgraded shares of Ameriprise Financial from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $434.00 to $530.00 in a report on Friday, January 30th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. One equities research 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and a consensus price target of $555.67.

Ameriprise Financial Stock Up 0.4%

Shares of NYSE:AMP opened at $442.03 on Monday. The firm has a market cap of $40.30 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.03 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18. The business has a fifty day simple moving average of $491.57 and a 200 day simple moving average of $484.72.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating the consensus estimate of $10.33 by $0.50. The business had revenue of $4.92 billion for the quarter, compared to analysts' expectations of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm's revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $9.54 earnings per share. Analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were given a dividend of $1.60 per share. The ex-dividend date was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial's dividend payout ratio is 17.60%.

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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