OLD National Bancorp IN Increases Position in Ameriprise Financial, Inc. $AMP

OLD National Bancorp IN increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 16.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,202 shares of the financial services provider’s stock after acquiring an additional 2,384 shares during the period. OLD National Bancorp IN’s holdings in Ameriprise Financial were worth $7,645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMP. PFG Investments LLC boosted its position in Ameriprise Financial by 1.4% in the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 21 shares during the last quarter. Institute for Wealth Management LLC. increased its position in shares of Ameriprise Financial by 3.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 21 shares during the last quarter. EPG Wealth Management LLC increased its position in shares of Ameriprise Financial by 0.8% during the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 21 shares during the last quarter. Essex Financial Services Inc. raised its stake in shares of Ameriprise Financial by 2.4% during the 4th quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 21 shares during the period. Finally, SouthState Bank Corp raised its stake in shares of 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. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Down 0.1%

AMP opened at $452.88 on Friday. The company has a 50 day moving average of $460.54 and a 200 day moving average of $473.07. The company has a market cap of $40.71 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.16. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $550.18. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP) last released 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. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. Ameriprise Financial’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $9.50 EPS. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 42.69 EPS for the current 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 $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.91%.

Insiders Place Their Bets

In related 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 transaction of $558,996.00. Following the sale, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMP. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. BMO Capital Markets lifted their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Morgan Stanley boosted their target price on shares of 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 assumed coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $543.22.

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.