Aware Super Pty Ltd as trustee of Aware Super Acquires New Position in Ameriprise Financial, Inc. $AMP

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 74,505 shares of the financial services provider’s stock, valued at approximately $33,110,000. Aware Super Pty Ltd as trustee of Aware Super owned approximately 0.08% of Ameriprise Financial at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SouthState Bank Corp boosted its stake in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares in the last quarter. Holos Integrated Wealth LLC purchased a new position in Ameriprise Financial in the fourth quarter worth $30,000. Ares Financial Consulting LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at $32,000. Prosperity Bancshares Inc acquired a new stake in Ameriprise Financial in the fourth quarter valued at $33,000. Finally, Evolution Wealth Management Inc. purchased a new stake in shares of Ameriprise Financial during the 1st quarter worth $34,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AMP shares. BMO Capital Markets upped their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. Weiss Ratings downgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Morgan Stanley upped their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $553.67.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $531.87 on Friday. The firm has a market capitalization of $47.82 billion, a PE ratio of 13.23, a P/E/G ratio of 0.94 and a beta of 1.16. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18. The firm’s 50-day simple moving average is $469.19 and its 200 day simple moving average is $473.48. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $9.50 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 43.74 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.91%.

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.