Munich Reinsurance Co Stock Corp in Munich Makes New Investment in Ameriprise Financial, Inc. $AMP

Key Points

• Munich Re acquired a new stake of 19,700 shares in Ameriprise Financial (NYSE:AMP) during Q3, valued at about $9.68 million.
• Significant insider selling occurred recently: CFO Walter Stanley Berman sold 7,000 shares and another insider sold 4,658 shares, with insiders disposing of a total of 16,658 shares (~$9.0M) over the last 90 days, leaving insiders owning 0.73% of the stock.
• Ameriprise topped quarterly estimates with EPS of $10.83 versus $10.33 and revenue of $4.92B (up 10.2% YoY); the company pays a $1.60 quarterly dividend ($6.40 annual, 1.4% yield) and carries a consensus analyst rating of "Hold" with an average target of $555.67.

Munich Reinsurance Co Stock Corp in Munich acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 19,700 shares of the financial services provider's stock, valued at approximately $9,678,000.

Other large investors have also bought and sold shares of the company. Ameriflex Group Inc. lifted its position in shares of Ameriprise Financial by 200.0% during the third quarter. Ameriflex Group Inc. now owns 354 shares of the financial services provider's stock worth $174,000 after purchasing an additional 236 shares in the last quarter. First Trust Advisors LP lifted its stake in Ameriprise Financial by 8.2% in the third quarter. First Trust Advisors LP now owns 446,683 shares of the financial services provider's stock valued at $219,433,000 after buying an additional 33,717 shares in the last quarter. Aptus Capital Advisors LLC boosted its stake in Ameriprise Financial by 2.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,090 shares of the financial services provider's stock worth $535,000 after purchasing an additional 24 shares during the period. One Wealth Capital Management LLC grew its stake in shares of Ameriprise Financial by 5.5% during the 3rd quarter. One Wealth Capital Management LLC now owns 692 shares of the financial services provider's stock worth $340,000 after acquiring an additional 36 shares in the last quarter. Finally, Perennial Investment Advisors LLC increased its stake in Ameriprise Financial by 14.1% in the 3rd quarter. Perennial Investment Advisors LLC now owns 487 shares of the financial services provider's stock valued at $239,000 after buying an additional 60 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares of the company's stock, valued at $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider owned 4,621 shares of the company's stock, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,658 shares of company stock valued at $8,998,675 over the last ninety days. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $464.84 on Friday. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $550.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock's 50-day moving average is $495.95 and its 200 day moving average is $487.09. The stock has a market cap of $42.38 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.08 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the previous year, the firm earned $9.54 EPS. The company's quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were given a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial's dividend payout ratio is presently 17.60%.

Analyst Ratings Changes

A number of analysts have recently issued reports on AMP shares. BMO Capital Markets reaffirmed a "market perform" rating on shares of Ameriprise Financial in a research report on Tuesday. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the company a "strong-buy" rating in a research note on Wednesday, February 11th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an "underweight" rating in a report on Monday, December 22nd. Piper Sandler raised shares of Ameriprise Financial from an "underweight" rating to a "neutral" rating and increased their target price for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Finally, Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a "buy" rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $555.67.

Ameriprise Financial Company 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.

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