Osmosis Investment Management UK Ltd Makes New Investment in Ameriprise Financial, Inc. $AMP

Key Points

• Osmosis Investment Management initiated a position in Ameriprise Financial during the second quarter, buying 3,388 shares worth approximately $1.55 million. Institutional investors and hedge funds 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 maintains a $1.70 quarterly dividend, equal to a 1.2% annualized yield.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $555.33 price target. AMP opened at $561, near its 52-week high of $572.56, although insiders sold nearly $16.3 million of stock over the past three months.

Osmosis Investment Management UK Ltd bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,388 shares of the financial services provider's stock, valued at approximately $1,554,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $5,026,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Ameriprise Financial in the 2nd quarter valued at $203,510,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in Ameriprise Financial during the 2nd quarter valued at about $2,922,000. Globeflex Capital L P bought a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $394,000. Finally, First Nebraska Trust Co bought a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $360,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares of the company's stock, valued at approximately $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Jerryl 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 value of $4,428,063.50. Following the completion of the transaction, the insider owned 6,780 shares of the company's stock, valued at $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 over the last three months. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on AMP shares. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Piper Sandler lifted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a report on Friday, July 10th. Zacks Research upgraded Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $555.33.

Ameriprise Financial Stock Up 1.0%

NYSE AMP opened at $561.00 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The company has a market cap of $50.43 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.74 and a beta of 1.14. The company has a 50 day moving average of $519.69 and a 200-day moving average of $481.87. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (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 the consensus estimate of $4.87 billion. During the same quarter in the prior year, the business posted $9.11 earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial's payout ratio is presently 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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