National Pension Service Has $115.44 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Key Points

• The National Pension Service increased its stake in Ameriprise Financial by 5.8%, owning 238,451 shares valued at approximately $115.4 million after acquiring 13,041 additional shares.
• Ameriprise Financial reported $9.11 earnings per share for the latest quarter, surpassing analyst expectations of $9.00, with a revenue of $4.49 billion.
• The company announced a quarterly dividend of $1.60 per share, reflecting an annualized payout of $6.40, and a dividend yield of 1.3%.

National Pension Service boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,451 shares of the financial services provider's stock after purchasing an additional 13,041 shares during the period. National Pension Service owned about 0.25% of Ameriprise Financial worth $115,437,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AMP. GAMMA Investing LLC increased its holdings in Ameriprise Financial by 49,248.9% during the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock worth $1,023,461,000 after purchasing an additional 2,109,824 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Ameriprise Financial by 21.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock worth $2,819,900,000 after purchasing an additional 1,023,002 shares in the last quarter. Nuveen LLC bought a new position in Ameriprise Financial during the 1st quarter worth about $469,334,000. Goldman Sachs Group Inc. increased its holdings in Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock worth $578,852,000 after purchasing an additional 266,631 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Ameriprise Financial by 19.8% during the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock worth $675,344,000 after purchasing an additional 209,549 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research reports. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Raymond James Financial increased their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Morgan Stanley downgraded shares of 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 research note on Tuesday, July 15th. Finally, Piper Sandler increased their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $534.71.

Ameriprise Financial Stock Performance

NYSE:AMP traded down $10.94 during mid-day trading on Friday, hitting $502.75. The stock had a trading volume of 424,794 shares, compared to its average volume of 435,926. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The stock has a market cap of $47.39 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.07 and a beta of 1.24. The company's 50 day simple moving average is $521.74 and its 200 day simple moving average is $507.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

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

Ameriprise Financial announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is 19.91%.

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.