Livforsakringsbolaget Skandia Omsesidigt Has $9.67 Million Stock Position in Ameriprise Financial, Inc. $AMP

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Ameriprise Financial by 20.6%, acquiring an additional 3,100 shares, bringing its total to 18,131 shares worth approximately $9.67 million.
• Several hedge funds, including the University of Texas Texas AM Investment Management Co. and TD Capital Management LLC, have recently adjusted their stakes in Ameriprise Financial, indicating a trend of growing institutional interest.
• Analysts' ratings on Ameriprise Financial are mixed, with a consensus rating of "Hold" and a target price of around $534.71, reflecting varying expectations for the company's stock performance.

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

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after buying an additional 50 shares in the last quarter. Group One Trading LLC raised its stake in Ameriprise Financial by 178.0% during the fourth quarter. Group One Trading LLC now owns 278 shares of the financial services provider's stock valued at $148,000 after buying an additional 178 shares in the last quarter. Tidal Investments LLC raised its stake in Ameriprise Financial by 53.3% during the fourth quarter. Tidal Investments LLC now owns 4,954 shares of the financial services provider's stock valued at $2,638,000 after buying an additional 1,722 shares in the last quarter. Waverly Advisors LLC raised its position in shares of Ameriprise Financial by 29.9% during the 4th quarter. Waverly Advisors LLC now owns 1,480 shares of the financial services provider's stock worth $788,000 after purchasing an additional 341 shares during the period. Finally, Focus Partners Advisor Solutions LLC raised its position in shares of Ameriprise Financial by 112.3% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 1,637 shares of the financial services provider's stock worth $872,000 after purchasing an additional 866 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Insiders Place Their Bets

In related news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded up $5.20 during trading on Monday, reaching $494.72. The company's stock had a trading volume of 551,432 shares, compared to its average volume of 507,456. 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 business's fifty day moving average price is $510.69 and its 200-day moving average price is $501.75. The firm has a market cap of $46.64 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.04 and a beta of 1.27. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted 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 return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the company posted $8.72 earnings per share. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of research reports. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Morgan Stanley lowered Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their price objective for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Piper Sandler increased their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.