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

Key Points

• Livforsakringsbolaget Skandia Omsesidigt acquired 20,431 shares of Ameriprise Financial worth approximately $9.36 million during the second quarter. Institutional investors collectively own 83.95% of the company.
• Ameriprise exceeded quarterly expectations, reporting $11.07 in EPS versus the $10.81 consensus and $4.90 billion in revenue, up 11.6% year over year.
• The company paid a quarterly dividend of $1.70 per share, equivalent to an annualized $6.80 payout and a 1.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $555.33.

Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 20,431 shares of the financial services provider's stock, valued at approximately $9,363,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Twin Lakes Capital Management LLC acquired a new position in Ameriprise Financial in the 2nd quarter valued at approximately $25,000. Rakuten Investment Management Inc. acquired a new stake in Ameriprise Financial in the second quarter valued at $6,590,000. Glenview Trust Co bought a new position in Ameriprise Financial during the 2nd quarter worth $6,786,000. Concorde Asset Management LLC acquired a new position in Ameriprise Financial during the 2nd quarter worth about $202,000. Finally, Empowered Funds LLC acquired a new position in Ameriprise Financial during the 2nd quarter worth about $17,045,000. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the sale, the executive vice president owned 3,373 shares of the company's stock, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the sale, the senior vice president directly owned 713 shares of the company's stock, valued at approximately $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,988 shares of company stock worth $16,316,497 in the last three months. Insiders own 0.60% of the company's stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $559.79 on Friday. The stock has a market capitalization of $50.33 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The stock's 50 day moving average price is $526.87 and its two-hundred day moving average price is $482.80.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.81 by $0.26. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. Ameriprise Financial's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.11 EPS. On average, equities analysts predict that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial's dividend payout ratio is 16.40%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research note on Friday, July 10th. Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Piper Sandler boosted their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Finally, Weiss Ratings raised shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial has an average rating of "Moderate Buy" and a consensus price target of $555.33.

About Ameriprise Financial

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source