Munich Reinsurance Co Stock Corp in Munich Has $13.41 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Munich Reinsurance increased its Ameriprise Financial stake by 37.1% in the second quarter, adding 7,916 shares to hold 29,232 shares valued at approximately $13.41 million.
• Ameriprise reported quarterly EPS of $11.07, exceeding estimates of $10.81, while revenue rose 11.6% year over year to $4.90 billion. The stock opened at $559.88, near its 52-week high of $572.56.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $555.33, while insiders sold nearly 30,000 shares worth $16.3 million over the past quarter. The company also pays a quarterly dividend of $1.70 per share.

Munich Reinsurance Co Stock Corp in Munich boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 37.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,232 shares of the financial services provider's stock after acquiring an additional 7,916 shares during the period. Munich Reinsurance Co Stock Corp in Munich's holdings in Ameriprise Financial were worth $13,410,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AMP. SouthState Bank Corp lifted its holdings in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 22 shares during the last quarter. Twin Lakes Capital Management LLC bought a new position in Ameriprise Financial in the second quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial in the 2nd quarter worth $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $28,000. Finally, Fiduciary Financial Advisors bought a new stake in Ameriprise Financial in the second quarter valued at approximately $30,000. Institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMP shares. Morgan Stanley lifted their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a report on Friday, July 10th. Zacks Research upgraded Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $555.33.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider William Williams sold 8,210 shares of the company's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the transaction, the insider owned 6,780 shares of the company's stock, valued at $3,656,793. This represents a 54.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Dawn Brockman sold 472 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares of the company's stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial Stock Down 0.9%

NYSE AMP opened at $559.88 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The stock has a market capitalization of $50.33 billion, a PE ratio of 13.50, a PEG ratio of 1.01 and a beta of 1.14. The business has a fifty day moving average price of $536.22 and a two-hundred day moving average price of $484.91.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the company earned $9.11 EPS. Ameriprise Financial's revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts expect that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders 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 dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial's payout ratio is presently 16.40%.

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).

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