OMERS ADMINISTRATION Corp Has $4.31 Million Position in Ameriprise Financial, Inc. $AMP

OMERS ADMINISTRATION Corp grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 16.6% during the first quarter, HoldingsChannel.com reports. The firm owned 9,702 shares of the financial services provider’s stock after purchasing an additional 1,379 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Ameriprise Financial were worth $4,312,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $742,438,000. AQR Capital Management LLC increased its position in Ameriprise Financial by 84.2% in the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after acquiring an additional 496,319 shares during the period. M&T Bank Corp increased its position in Ameriprise Financial by 1,440.2% in the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock valued at $228,572,000 after acquiring an additional 435,885 shares during the period. First Trust Advisors LP raised its stake in shares of Ameriprise Financial by 85.5% during the fourth quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock valued at $406,216,000 after acquiring an additional 381,754 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Ameriprise Financial by 140.5% during the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after purchasing an additional 275,659 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. BMO Capital Markets raised their target price on 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 lifted their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Piper Sandler increased their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial Trading Up 1.5%

AMP opened at $537.01 on Tuesday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average of $477.51 and a 200-day moving average of $474.98. The stock has a market cap of $48.28 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 0.94 and a beta of 1.16.

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 the consensus estimate of $10.81 by $0.26. The business 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%. Ameriprise Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.11 earnings per share. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 43.92 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial’s payout ratio is currently 16.40%.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction dated 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 owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This represents a 50.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by insiders.

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.