Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 12,530 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Fjarde AP Fonden increased its stake in Ameriprise Financial by 61.6% in the first quarter, buying 12,530 additional shares and bringing its total holding to 32,871 shares worth about $14.6 million.
• Ameriprise reported strong quarterly earnings, posting $11.26 per share versus estimates of $10.21, 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 rate the stock a Hold overall with a consensus price target of $543.22.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 61.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,871 shares of the financial services provider's stock after purchasing an additional 12,530 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Ameriprise Financial were worth $14,608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AMP. Norges Bank bought a new position in Ameriprise Financial during the 4th quarter worth $742,438,000. AQR Capital Management LLC boosted its position in shares of Ameriprise Financial by 84.2% in the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock valued at $532,455,000 after acquiring an additional 496,319 shares during the period. M&T Bank Corp boosted its position in shares of Ameriprise Financial by 1,440.2% in the fourth quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider's stock valued at $228,572,000 after acquiring an additional 435,885 shares during the period. First Trust Advisors LP grew its stake in shares of Ameriprise Financial by 85.5% in the fourth quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider's stock valued at $406,216,000 after acquiring an additional 381,754 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Ameriprise Financial by 140.5% during the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider's stock worth $231,805,000 after acquiring an additional 275,659 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Gerard P. Smyth sold 6,255 shares of the company'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 transaction of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares of the company's stock, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the 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 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company's stock.

Ameriprise Financial Stock Down 0.1%

Shares of NYSE AMP opened at $488.68 on Friday. The stock has a market capitalization of $43.93 billion, a P/E ratio of 12.15, a PEG ratio of 1.02 and a beta of 1.16. The stock's fifty day moving average is $461.75 and its 200 day moving average is $472.50. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18. 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 posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping the consensus estimate of $10.21 by $1.05. The business had revenue of $4.77 billion during 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%. Ameriprise Financial's revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.50 earnings per share. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 43.01 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, May 4th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.60. Ameriprise Financial's dividend payout ratio is presently 16.91%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Morgan Stanley increased their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an "underweight" rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a "hold" rating on the stock. BMO Capital Markets lifted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Finally, Weiss Ratings cut Ameriprise Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price 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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.