National Pension Service Purchases 12,563 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• National Pension Service increased its Ameriprise Financial stake by 8.2% in the fourth quarter, buying 12,563 additional shares and bringing its total holding to 165,543 shares worth about $81.2 million.
• Ameriprise Financial beat quarterly earnings expectations, reporting $11.26 EPS versus the $10.21 estimate, while revenue rose 9.7% year over year to $4.77 billion.
• The company also raised its dividend to $1.70 per share from $1.60, implying an annualized payout of $6.80 and a dividend yield of 1.5%.

National Pension Service increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 165,543 shares of the financial services provider's stock after buying an additional 12,563 shares during the period. National Pension Service owned 0.18% of Ameriprise Financial worth $81,172,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. PFG Investments LLC boosted its holdings in shares of Ameriprise Financial by 1.4% during the 4th quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider's stock worth $729,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. boosted its holdings in shares of Ameriprise Financial by 3.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider's stock worth $297,000 after buying an additional 21 shares during the period. EPG Wealth Management LLC boosted its holdings in shares of Ameriprise Financial by 0.8% during the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider's stock worth $1,331,000 after buying an additional 21 shares during the period. UMB Bank n.a. boosted its holdings in shares of Ameriprise Financial by 0.8% during the 3rd quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider's stock worth $1,504,000 after buying an additional 23 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Ameriprise Financial by 5.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider's stock worth $239,000 after buying an additional 23 shares during the period. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Up 1.4%

Shares of AMP stock opened at $445.94 on Friday. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The stock has a market cap of $40.09 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.05 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a fifty day moving average of $455.29 and a 200-day moving average of $472.95.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company had revenue of $4.77 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the prior year, the company posted $9.50 EPS. The business's revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $1.70 dividend. The ex-dividend date was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.60. Ameriprise Financial's dividend payout ratio is currently 16.91%.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director owned 6,300 shares of the company's stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AMP shares. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the stock a "strong-buy" rating in a report on Wednesday, February 11th. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a "hold" rating for the company. Piper Sandler upped their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $543.22.

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.

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