Jupiter Topco LLC Invests $5.43 Million in Ameriprise Financial, Inc. $AMP

Jupiter Topco LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,860 shares of the financial services provider’s stock, valued at approximately $5,435,000.

Several other large investors have also recently bought and sold shares of AMP. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ameriprise Financial by 5.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock valued at $98,388,000 after buying an additional 10,782 shares during the period. National Pension Service boosted its stake in shares of Ameriprise Financial by 8.2% during the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after buying an additional 12,563 shares during the period. LSV Asset Management boosted its stake in shares of Ameriprise Financial by 1.3% during the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after buying an additional 3,548 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the 2nd quarter valued at $1,704,000. Finally, KBC Group NV increased its stake in shares of Ameriprise Financial by 43.7% in the second quarter. KBC Group NV now owns 215,126 shares of the financial services provider’s stock worth $98,691,000 after acquiring an additional 65,400 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMP shares. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Morgan Stanley raised their price target on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Stock Down 0.9%

Shares of Ameriprise Financial stock opened at $554.01 on Tuesday. The stock has a market capitalization of $49.81 billion, a P/E ratio of 13.36, a PEG ratio of 0.75 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average price of $528.53 and a two-hundred day moving average price of $482.75. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the firm posted $9.11 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts expect that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Insider Activity

In other news, SVP Dawn M. Brockman sold 472 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the sale, the senior vice president directly owned 713 shares of the company’s stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William Jerryl Williams sold 8,210 shares of Ameriprise Financial stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the transaction, the insider owned 6,780 shares in the company, valued at $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,988 shares of company stock worth $16,316,497 in the last 90 days. Insiders own 0.60% of the company’s stock.

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.