Munich Reinsurance Co Stock Corp in Munich Grows Stock Holdings in Ameriprise Financial, Inc. $AMP

Munich Reinsurance Co Stock Corp in Munich lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1,048.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 21,316 shares of the financial services provider’s stock after buying an additional 19,460 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Ameriprise Financial were worth $9,473,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AMP. SouthState Bank Corp boosted its position in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares during the period. Holos Integrated Wealth LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at about $30,000. Ares Financial Consulting LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at about $32,000. Prosperity Bancshares Inc acquired a new position in shares of Ameriprise Financial during the fourth quarter worth about $33,000. Finally, Evolution Wealth Management Inc. purchased a new stake in shares of Ameriprise Financial in the first quarter worth about $34,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 3.6%

NYSE:AMP opened at $489.54 on Thursday. The stock has a market cap of $44.01 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The business’s 50-day simple moving average is $463.80 and its 200 day simple moving average is $472.66.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data 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 return on equity of 62.88% and a net margin of 20.57%.The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the firm earned $9.50 EPS. Ameriprise Financial’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 43.01 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders 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 an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio is 16.91%.

Insiders Place Their Bets

In other news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the sale, the director owned 6,300 shares in the company, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMP. Morgan Stanley increased their target price on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a report 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 research report on Thursday, July 2nd. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets upped their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average price target of $543.22.

About Ameriprise Financial

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.