Nykredit A S Invests $17.04 Million in Ameriprise Financial, Inc. $AMP

Key Points

• Nykredit A/S acquired 37,136 Ameriprise Financial shares worth approximately $17.04 million in the second quarter. Institutional investors collectively own 83.95% of AMP’s outstanding stock.
• Analysts maintain a generally positive outlook, with Ameriprise carrying a consensus rating of “Moderate Buy” and an average price target of $555.33. Recent targets range from $489 to $545, while Zacks upgraded the stock to “Strong Buy.”
• Ameriprise reported second-quarter EPS of $11.07, exceeding estimates, while revenue rose 11.6% year over year to $4.90 billion. The company also declared a quarterly dividend of $1.70 per share, equivalent to a 1.2% annual yield.

Nykredit A S acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 37,136 shares of the financial services provider's stock, valued at approximately $17,037,000.

A number of other institutional investors have also recently bought and sold shares of AMP. B. Metzler seel. Sohn & Co. AG increased its holdings in Ameriprise Financial by 1.0% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 22,454 shares of the financial services provider's stock worth $10,301,000 after buying an additional 231 shares during the last quarter. PFG Private Wealth Management LLC grew its position in Ameriprise Financial by 6.0% in the second quarter. PFG Private Wealth Management LLC now owns 947 shares of the financial services provider's stock worth $434,000 after acquiring an additional 54 shares in the last quarter. Legacy Financial Advisors Inc. grew its position in Ameriprise Financial by 9.0% in the second quarter. Legacy Financial Advisors Inc. now owns 787 shares of the financial services provider's stock worth $361,000 after acquiring an additional 65 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Ameriprise Financial during the 2nd quarter worth $304,000. Finally, CTC Alternative Strategies Ltd. acquired a new position in shares of Ameriprise Financial during the 2nd quarter worth $477,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Weiss Ratings raised shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. Piper Sandler boosted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Zacks Research upgraded Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Morgan Stanley raised their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research note on Friday, July 10th. Two investment 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 stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of "Moderate Buy" and a consensus price target of $555.33.

Insiders Place Their Bets

In related news, SVP Dawn M. Brockman sold 472 shares of the business's stock in a transaction 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 transaction, the senior vice president 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. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Williams sold 8,210 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the sale, the insider directly owned 6,780 shares of the company's stock, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,988 shares of company stock valued at $16,316,497 over the last ninety days. 0.60% of the stock is owned by insiders.

Ameriprise Financial Stock Down 0.9%

Ameriprise Financial stock 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 firm has a fifty day moving average price of $536.22 and a two-hundred day moving average price of $484.91. The firm has a market cap of $50.33 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.01 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the company posted $9.11 earnings per share. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts forecast that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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

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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