Livforsakringsbolaget Skandia Omsesidigt Grows Position in Ameriprise Financial, Inc. $AMP

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Ameriprise Financial by 20.6% during the 2nd quarter, owning 18,131 shares valued at approximately $9.67 million.
• Ameriprise Financial reported $9.11 EPS for the latest quarter, exceeding analysts' expectations, with revenue of $4.49 billion, up 2.2% from the previous year.
• The company announced a quarterly dividend of $1.60 per share, with an annualized yield of 1.3% and a payout ratio of 19.91%.

Livforsakringsbolaget Skandia Omsesidigt increased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 20.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,131 shares of the financial services provider's stock after buying an additional 3,100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Ameriprise Financial were worth $9,671,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMP. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $26,000. TD Capital Management LLC grew its stake in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock worth $29,000 after buying an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $29,000. Sunbeam Capital Management LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $31,000. Finally, WPG Advisers LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Trading Down 2.0%

Shares of AMP stock opened at $486.99 on Tuesday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market capitalization of $45.91 billion, a PE ratio of 15.15, a PEG ratio of 1.06 and a beta of 1.27. The stock has a fifty day simple moving average of $514.75 and a two-hundred day simple moving average of $502.38.

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

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is presently 19.91%.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AMP. Royal Bank Of Canada upped their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Finally, Raymond James Financial upped their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $534.71.

Ameriprise Financial 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.

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