3,000 Shares in Ameriprise Financial, Inc. $AMP Acquired by Pensionfund Sabic

Pensionfund Sabic bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,000 shares of the financial services provider’s stock, valued at approximately $1,471,000.

Several other institutional investors have also recently made changes to their positions in AMP. Norges Bank bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $693,736,000. Qube Research & Technologies Ltd boosted its stake in Ameriprise Financial by 140.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after purchasing an additional 275,659 shares during the period. Man Group plc grew its holdings in Ameriprise Financial by 687.4% during the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock valued at $135,989,000 after buying an additional 241,665 shares in the last quarter. Federated Hermes Inc. grew its holdings in Ameriprise Financial by 29.3% during the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock valued at $474,628,000 after buying an additional 219,080 shares in the last quarter. Finally, Close Asset Management Ltd increased its position in shares of Ameriprise Financial by 78.2% during the third quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock valued at $227,652,000 after buying an additional 203,252 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity

In related news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. This trade 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 the SEC website. Also, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This represents a 29.16% decrease in their ownership of the stock. 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. Corporate insiders own 0.57% of the company’s stock.

Ameriprise Financial Price Performance

AMP opened at $447.83 on Wednesday. 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 stock has a market capitalization of $40.83 billion, a P/E ratio of 12.32, a PEG ratio of 1.03 and a beta of 1.27. The stock has a 50-day moving average price of $482.31 and a 200-day moving average price of $481.21. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.Ameriprise Financial’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $9.54 EPS. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s payout ratio is presently 17.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AMP shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. Finally, Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Company 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.