Nykredit A S Makes New $16.21 Million Investment in Ameriprise Financial, Inc. $AMP

Key Points

• Nykredit A/S invested approximately $16.21 million in Ameriprise Financial during the second quarter, purchasing 35,327 shares. Institutional investors own 83.95% of the company, with several major firms also establishing new positions.
• Analysts maintain a generally positive outlook, with Ameriprise receiving a “Moderate Buy” consensus rating and an average price target of $555.33. Recent targets range from $518 to $645.
• Ameriprise exceeded quarterly expectations, reporting $11.07 in earnings per share and $4.90 billion in revenue, while revenue rose 11.6% year over year. The company also pays a quarterly dividend of $1.70 per share, equivalent to a 1.3% yield.

Nykredit A S bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 35,327 shares of the financial services provider's stock, valued at approximately $16,207,000.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth $742,438,000. Bank of America Corp DE acquired a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $320,948,000. Legal & General Group Plc purchased a new stake in shares of Ameriprise Financial in the second quarter valued at about $262,687,000. Hsbc Holdings PLC purchased a new stake in shares of Ameriprise Financial in the second quarter valued at about $248,547,000. Finally, Man Group plc purchased a new stake in shares of Ameriprise Financial in the second quarter valued at about $228,311,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on AMP shares. Piper Sandler lifted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Finally, Weiss Ratings raised shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $555.33.

Ameriprise Financial Trading Down 0.4%

NYSE AMP opened at $543.63 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. The stock has a market capitalization of $48.87 billion, a P/E ratio of 13.11, a PEG ratio of 0.98 and a beta of 1.14. The firm's 50-day moving average is $549.36 and its two-hundred day moving average is $490.58. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56.

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

Ameriprise Financial Announces Dividend

The company also recently declared 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 yield of 1.3%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial's dividend payout ratio is 16.40%.

Insider Transactions at Ameriprise Financial

In related news, EVP Deirdre Mcgraw sold 2,400 shares of the business's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Williams sold 8,210 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the sale, the insider owned 6,780 shares in the company, valued at $3,656,793. This represents a 54.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,988 shares of company stock valued at $16,316,497 over the last three months. 0.60% of the stock is currently owned by company insiders.

About Ameriprise Financial

Ameriprise Financial, Inc NYSE: AMP is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.

The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.

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