PFA Pension Forsikringsaktieselskab Acquires Shares of 145,711 Ameriprise Financial, Inc. $AMP

Key Points

• PFA Pension Forsikringsaktieselskab bought 145,711 shares of Ameriprise Financial (NYSE:AMP), a new stake valued at about $72.05 million, equal to roughly 0.16% of the company.
• Ameriprise beat quarterly EPS estimates, reporting $11.26 per share (vs. $10.21 expected) with $4.77 billion in revenue, a 20.57% net margin and a 62.88% return on equity.
• Dividend increased to $1.70 quarterly (annualized $6.80) with an ex-dividend date of May 4 and a yield of about 1.5%.

PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 145,711 shares of the financial services provider's stock, valued at approximately $72,050,000. PFA Pension Forsikringsaktieselskab owned about 0.16% of Ameriprise Financial at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMP. Rexford Capital Inc. raised its position in Ameriprise Financial by 20.6% during the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider's stock valued at $60,000 after acquiring an additional 21 shares in the last quarter. PFG Investments LLC raised its position in Ameriprise Financial by 1.4% during the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider's stock valued at $729,000 after acquiring an additional 21 shares in the last quarter. Institute for Wealth Management LLC. increased its stake 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 purchasing an additional 21 shares during the last quarter. EPG Wealth Management LLC increased its stake 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 purchasing an additional 21 shares during the last quarter. Finally, UMB Bank n.a. increased its stake 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 purchasing an additional 23 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $467.24 on Friday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The firm's fifty day simple moving average is $454.79 and its 200 day simple moving average is $474.14. The company has a current ratio of 0.66, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $42.60 billion, a PE ratio of 11.62, a PEG ratio of 1.14 and a beta of 1.20.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share 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 firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the firm earned $9.50 EPS. The business's revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 41.87 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be given a dividend of $1.70 per share. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.60. The ex-dividend date is Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial's dividend payout ratio (DPR) is presently 15.92%.

Insider Activity

In other news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 16,658 shares of company stock worth $8,998,675. Corporate insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a "hold" rating on the stock. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a "strong-buy" rating in a research note on Wednesday, February 11th. Piper Sandler cut their price objective on Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating on the stock in a research note on Tuesday, April 7th. Morgan Stanley raised their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research note on Thursday. Finally, Royal Bank Of Canada reissued 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, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $542.00.

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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