Eurizon SLJ Capital Ltd Invests $1.89 Million in Ameriprise Financial, Inc. $AMP

Eurizon SLJ Capital Ltd purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, Holdings Channel reports. The firm purchased 4,115 shares of the financial services provider’s stock, valued at approximately $1,888,000.

Other large investors have also made changes to their positions in the company. State Street Corp grew its stake in Ameriprise Financial by 0.4% in the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after acquiring an additional 18,879 shares during the period. Norges Bank acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth about $742,438,000. Boston Partners lifted its holdings in shares of Ameriprise Financial by 1.1% during the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after purchasing an additional 13,172 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of 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 valued at $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% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock valued at $455,387,000 after purchasing an additional 19,731 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.1%

Shares of AMP stock opened at $570.06 on Friday. The firm’s fifty day moving average price is $507.03 and its two-hundred day moving average price is $480.30. 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, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The firm has a market capitalization of $51.25 billion, a P/E ratio of 13.75, a PEG ratio of 0.77 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating the consensus estimate of $10.81 by $0.26. The company had revenue of $4.90 billion during 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 quarter last year, the company earned $9.11 EPS. On average, equities analysts predict that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders 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 yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.40%.

Analyst Ratings Changes

Several analysts have commented on AMP shares. Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Piper Sandler upped their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. BMO Capital Markets increased their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Jefferies Financial Group lifted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial currently has an average rating of “Moderate Buy” and a consensus target price of $555.33.

Insider Buying and Selling

In other news, CFO Walter Stanley Berman sold 11,012 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares of the company’s stock, valued at $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,988 shares of company stock worth $16,316,497 over the last 90 days. Company 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.