United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes $1.18 Million Position in Ameriprise Financial, Inc. $AMP

Key Points

• United Super Pty Ltd (Trustee for the Construction & Building Unions Superannuation Fund) opened a new position in Ameriprise Financial by acquiring 2,400 shares in Q3, valued at about $1.18 million.
• Significant insider selling occurred recently: CFO Walter Berman sold 7,000 shares (~$3.81M) and CEO William Truscott sold 5,000 shares (~$2.66M), with insiders offloading 16,658 shares (~$9.0M) in the past 90 days.
• Ameriprise beat quarterly estimates (EPS $10.83 vs. $10.33; revenue up 10.2%), yet Wall Street’s consensus rating is a Hold with an average price target of $555.67, despite several firms raising targets (e.g., Jefferies $620, Raymond James $582).

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,400 shares of the financial services provider's stock, valued at approximately $1,179,000.

Other large investors have also recently added to or reduced their stakes in the company. Korea Investment CORP raised its stake in Ameriprise Financial by 15.3% during the 3rd quarter. Korea Investment CORP now owns 89,884 shares of the financial services provider's stock valued at $44,156,000 after acquiring an additional 11,906 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Ameriprise Financial during the 3rd quarter worth $9,678,000. Ameriflex Group Inc. grew its stake in shares of Ameriprise Financial by 200.0% in the third quarter. Ameriflex Group Inc. now owns 354 shares of the financial services provider's stock worth $174,000 after purchasing an additional 236 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Ameriprise Financial by 8.2% in the third quarter. First Trust Advisors LP now owns 446,683 shares of the financial services provider's stock worth $219,433,000 after purchasing an additional 33,717 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in shares of Ameriprise Financial by 2.3% during the third quarter. Aptus Capital Advisors LLC now owns 1,090 shares of the financial services provider's stock valued at $535,000 after purchasing an additional 24 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMP shares. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a "strong-buy" rating in a research note on Wednesday, February 11th. Piper Sandler upgraded shares of Ameriprise Financial from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Weiss Ratings restated a "buy (b-)" rating on shares of Ameriprise Financial in a report on Monday, December 29th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Ameriprise Financial in a research report on Tuesday. One investment 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 stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $555.67.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. This represents a 55.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Truscott sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares in the company, valued at $6,464,239.92. This trade represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 16,658 shares of company stock valued at $8,998,675. Insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $464.84 on Friday. The firm has a market capitalization of $42.38 billion, a PE ratio of 12.78, a PEG ratio of 1.08 and a beta of 1.27. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $550.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm's fifty day simple moving average is $495.95 and its 200 day simple moving average is $487.09.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping analysts' consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the previous year, the business earned $9.54 EPS. The business's revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial's payout ratio is currently 17.60%.

Ameriprise Financial 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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