Winmill & CO. Inc. Invests $10.09 Million in Ameriprise Financial, Inc. $AMP

Winmill & CO. Inc. acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,990 shares of the financial services provider’s stock, valued at approximately $10,088,000. Ameriprise Financial accounts for about 2.2% of Winmill & CO. Inc.’s investment portfolio, making the stock its 18th biggest holding.

A number of other institutional investors have also recently made changes to their positions in AMP. State Street Corp increased its stake in Ameriprise Financial by 0.4% during the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock worth $2,171,360,000 after buying an additional 18,879 shares during the period. Norges Bank purchased a new position in Ameriprise Financial in the 4th quarter valued at approximately $742,438,000. Boston Partners boosted its position in Ameriprise Financial by 1.1% in the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after buying an additional 13,172 shares during the period. AQR Capital Management LLC grew its stake in Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after purchasing an additional 496,319 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Ameriprise Financial by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock worth $455,387,000 after buying an additional 19,731 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares in the company, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the sale, the senior vice president owned 713 shares of the company’s stock, valued at $398,517.09. This trade represents a 39.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,988 shares of company stock worth $16,316,497 in the last three months. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on AMP. Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Piper Sandler raised their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Finally, Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.33.

Ameriprise Financial Trading Up 0.2%

Ameriprise Financial stock opened at $556.56 on Monday. The stock has a 50-day moving average price of $517.67 and a 200 day moving average price of $481.65. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The stock has a market cap of $50.03 billion, a PE ratio of 13.42, a P/E/G ratio of 0.74 and a beta of 1.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $9.11 EPS. Equities research analysts predict that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal 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 given a dividend of $1.70 per share. The ex-dividend date was Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

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.