Varma Mutual Pension Insurance Co Purchases 4,100 Shares of Ameriprise Financial, Inc. $AMP

Varma Mutual Pension Insurance Co grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 21.6% during the 3rd quarter, Holdings Channel reports. The firm owned 23,062 shares of the financial services provider’s stock after purchasing an additional 4,100 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Ameriprise Financial were worth $11,329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. AE Wealth Management LLC raised its holdings in Ameriprise Financial by 104.2% during the 3rd quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock worth $1,946,000 after buying an additional 2,022 shares during the period. National Pension Service raised its holdings in shares of Ameriprise Financial by 4.6% during the third quarter. National Pension Service now owns 152,980 shares of the financial services provider’s stock worth $75,151,000 after acquiring an additional 6,724 shares during the period. Optimize Financial Inc bought a new stake in Ameriprise Financial in the 3rd quarter valued at $453,000. Arjuna Capital boosted its stake in Ameriprise Financial by 14.6% in the 3rd quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock worth $6,196,000 after purchasing an additional 1,610 shares during the period. Finally, Candriam S.C.A. increased its holdings in Ameriprise Financial by 83.9% during the 3rd quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock worth $31,361,000 after purchasing an additional 29,116 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMP has been the topic of a number of recent research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 target price (up previously from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Argus lowered their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Morgan Stanley increased their price target on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Jefferies Financial Group upped their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their target price for the company from $434.00 to $530.00 in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $555.67.

Ameriprise Financial Stock Performance

NYSE AMP opened at $473.38 on Friday. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $552.43. The firm has a market capitalization of $43.98 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 1.09 and a beta of 1.26. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm’s 50 day simple moving average is $502.37 and its 200 day simple moving average is $491.20.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.Ameriprise Financial’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $9.54 EPS. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. This trade represents a 50.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,158 shares of company stock worth $9,675,085 in the last 90 days. Corporate insiders own 0.73% of the company’s stock.

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.