Fjarde AP Fonden Fourth Swedish National Pension Fund Has $14.61 Million Holdings in Ameriprise Financial, Inc. $AMP

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 61.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,871 shares of the financial services provider’s stock after acquiring an additional 12,530 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Ameriprise Financial were worth $14,608,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AMP. SouthState Bank Corp lifted its holdings in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 22 shares during the last quarter. Holos Integrated Wealth LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at approximately $30,000. Ares Financial Consulting LLC acquired a new position in Ameriprise Financial during the 4th quarter worth approximately $32,000. Prosperity Bancshares Inc bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $33,000. Finally, WFA of San Diego LLC acquired a new stake in Ameriprise Financial in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.1%

NYSE:AMP opened at $488.68 on Friday. 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 current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $43.93 billion, a PE ratio of 12.15, a P/E/G ratio of 1.02 and a beta of 1.16. The firm’s 50 day simple moving average is $461.75 and its 200 day simple moving average is $472.50.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $1.05. The firm had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $9.50 EPS. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 43.01 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a $1.70 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s payout ratio is presently 16.91%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AMP shares. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. BMO Capital Markets raised their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating on the stock. Finally, Piper Sandler upped their target price on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $543.22.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director directly owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Ameriprise Financial 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.