IFM Investors Pty Ltd Has $9.25 Million Holdings in Ameriprise Financial, Inc. $AMP

IFM Investors Pty Ltd lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,815 shares of the financial services provider’s stock after purchasing an additional 1,129 shares during the period. IFM Investors Pty Ltd’s holdings in Ameriprise Financial were worth $9,250,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ameriprise Financial by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after acquiring an additional 10,782 shares during the last quarter. Pensionfund Sabic bought a new position in Ameriprise Financial in the fourth quarter valued at about $1,471,000. LSV Asset Management boosted its holdings in Ameriprise Financial by 1.3% in the fourth quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after acquiring an additional 3,548 shares during the last quarter. KBC Group NV increased its position in Ameriprise Financial by 12.2% in the fourth quarter. KBC Group NV now owns 150,606 shares of the financial services provider’s stock worth $73,848,000 after purchasing an additional 16,433 shares during the period. Finally, National Pension Service increased its position in Ameriprise Financial by 8.2% in the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock worth $81,172,000 after purchasing an additional 12,563 shares during the period. 83.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director owned 6,300 shares in the company, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

AMP stock opened at $488.68 on Friday. The business’s 50-day moving average price is $461.34 and its two-hundred day moving average price is $472.38. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The firm has a market cap of $43.93 billion, a PE ratio of 12.15, a P/E/G ratio of 1.00 and a beta of 1.16. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $9.50 earnings per share. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 43.01 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a $1.70 dividend. The ex-dividend date was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s payout ratio is presently 16.91%.

Wall Street Analyst Weigh In

Several analysts have weighed in on AMP shares. BMO Capital Markets boosted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Finally, Piper Sandler increased their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $543.22.

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.