OMERS ADMINISTRATION Corp Makes New $31.98 Million Investment in Ameriprise Financial, Inc. $AMP

Key Points

• OMERS Administration Corp. acquired 69,700 shares of Ameriprise Financial worth approximately $31.98 million, joining other institutional investors that increased their positions. Institutions collectively own 83.95% of AMP.
• Ameriprise reported quarterly EPS of $11.07, beating estimates of $10.81, while revenue rose 11.6% year over year to $4.90 billion. The company also pays a $1.70 quarterly dividend, equivalent to a 1.2% yield.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $555.33 target price, although insiders sold nearly 30,000 shares worth $16.3 million over the past 90 days.

OMERS ADMINISTRATION Corp acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 69,700 shares of the financial services provider's stock, valued at approximately $31,976,000. OMERS ADMINISTRATION Corp owned 0.08% of Ameriprise Financial at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. Brighton Jones LLC grew its position in shares of Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after buying an additional 50 shares during the period. Empowered Funds LLC increased its position in Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock valued at $2,915,000 after buying an additional 634 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock worth $312,000 after acquiring an additional 72 shares in the last quarter. Schnieders Capital Management LLC. acquired a new stake in Ameriprise Financial in the second quarter valued at approximately $313,000. Finally, Gabelli Funds LLC increased its holdings in shares of Ameriprise Financial by 224.8% during the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock valued at $2,253,000 after acquiring an additional 2,922 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Insider Activity at Ameriprise Financial

In other news, insider William Jerryl Williams sold 8,210 shares of Ameriprise Financial stock in a transaction dated 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 sale, the insider owned 6,780 shares of the company's stock, valued at approximately $3,656,793. The trade was a 54.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of the firm's stock in a transaction that occurred 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 directly owned 713 shares of the company's stock, valued at $398,517.09. This represents a 39.83% decrease in their position. 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 in the last 90 days. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AMP has been the subject of several research reports. Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Weiss Ratings raised shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Piper Sandler raised their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $555.33.

Ameriprise Financial Trading Up 0.2%

Shares of AMP opened at $556.56 on Monday. 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 firm's 50 day simple moving average is $517.67 and its 200 day simple moving average is $481.65. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. The company has a market capitalization of $50.03 billion, a P/E ratio of 13.42, a P/E/G ratio of 0.74 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the prior year, the firm earned $9.11 earnings per share. Ameriprise Financial's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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

About Ameriprise Financial

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.

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source