28,354 Shares in Ameriprise Financial, Inc. $AMP Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,354 shares of the financial services provider’s stock, valued at approximately $13,008,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SouthState Bank Corp increased its holdings in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the first quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial in the second quarter worth approximately $28,000. Fiduciary Financial Advisors purchased a new position in shares of Ameriprise Financial during the second quarter valued at approximately $30,000. Finally, Prosperity Bancshares Inc bought a new position in Ameriprise Financial during the fourth quarter valued at approximately $33,000. 83.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the sale, the insider directly owned 6,780 shares of the company’s stock, valued at $3,656,793. This trade represents a 54.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,988 shares of company stock valued at $16,316,497 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AMP shares. Piper Sandler raised their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Jefferies Financial Group raised their target price on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Morgan Stanley upped their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial Trading Up 0.1%

Shares of AMP stock opened at $559.79 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $50.33 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The firm has a fifty day moving average price of $526.87 and a 200-day moving average price of $482.40.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.Ameriprise Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $9.11 EPS. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

About Ameriprise Financial

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.