Ameriprise Financial, Inc. $AMP Holdings Lifted by Korea Investment CORP

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Korea Investment CORP lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 11.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,677 shares of the financial services provider's stock after acquiring an additional 9,516 shares during the quarter. Korea Investment CORP owned about 0.10% of Ameriprise Financial worth $45,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AMP. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $26,000. Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial in the 4th quarter worth $31,000. Opal Wealth Advisors LLC acquired a new position in Ameriprise Financial in the 1st quarter worth $36,000. Quarry LP lifted its holdings in Ameriprise Financial by 148.6% in the 4th quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after buying an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC lifted its holdings in Ameriprise Financial by 100.0% in the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded up $10.6240 during trading on Friday, reaching $515.8540. 441,906 shares of the company's stock traded hands, compared to its average volume of 411,409. 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 12 month low of $396.14 and a 12 month high of $582.05. The company has a 50 day moving average of $521.12 and a 200-day moving average of $506.04. The stock has a market capitalization of $48.63 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.10 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating 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 the consensus estimate of $4.33 billion. During the same quarter in the prior year, the firm earned $8.72 EPS. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio is currently 19.91%.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares of the company's stock, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on AMP shares. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their price objective for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Royal Bank Of Canada boosted their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Finally, Raymond James Financial boosted their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $534.71.

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.