Vinva Investment Management Ltd Purchases 2,125 Shares of Ameriprise Financial, Inc. $AMP

Vinva Investment Management Ltd lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 37.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,801 shares of the financial services provider’s stock after acquiring an additional 2,125 shares during the quarter. Vinva Investment Management Ltd’s holdings in Ameriprise Financial were worth $3,897,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Ameriprise Financial in the 3rd quarter valued at about $1,179,000. Korea Investment CORP boosted its stake in shares of Ameriprise Financial by 15.3% during the third quarter. Korea Investment CORP now owns 89,884 shares of the financial services provider’s stock valued at $44,156,000 after purchasing an additional 11,906 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich purchased a new position in Ameriprise Financial during the third quarter valued at approximately $9,678,000. Ameriflex Group Inc. increased its holdings in Ameriprise Financial by 200.0% during the third quarter. Ameriflex Group Inc. now owns 354 shares of the financial services provider’s stock valued at $174,000 after buying an additional 236 shares during the period. Finally, First Trust Advisors LP raised its stake in Ameriprise Financial by 8.2% in the third quarter. First Trust Advisors LP now owns 446,683 shares of the financial services provider’s stock worth $219,433,000 after buying an additional 33,717 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,658 shares of company stock valued at $8,998,675. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

NYSE AMP opened at $464.84 on Monday. The firm’s fifty day simple moving average is $495.95 and its two-hundred day simple moving average is $486.96. The firm has a market capitalization of $42.38 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.08 and a beta of 1.27. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the prior year, the business posted $9.54 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Jefferies Financial Group upped their target price on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Argus reduced their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.