19,700 Shares in Ameriprise Financial, Inc. $AMP Bought by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,700 shares of the financial services provider’s stock, valued at approximately $9,678,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AE Wealth Management LLC increased its holdings in Ameriprise Financial by 104.2% in the 3rd quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock valued at $1,946,000 after purchasing an additional 2,022 shares in the last quarter. National Pension Service boosted its position in Ameriprise Financial by 4.6% during the 3rd 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 acquired a new position in shares of Ameriprise Financial during the 3rd quarter valued at $453,000. Arjuna Capital grew its position in Ameriprise Financial by 14.6% in the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock worth $6,196,000 after buying an additional 1,610 shares during the last quarter. Finally, Candriam S.C.A. grew its position 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 and hedge funds.

Ameriprise Financial Trading Down 1.7%

Shares of AMP stock opened at $464.84 on Friday. The firm has a market cap of $42.38 billion, a P/E ratio of 12.78, a PEG ratio of 1.08 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The company has a 50 day moving average of $495.95 and a 200-day moving average of $487.09. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18.

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 analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $9.54 EPS. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s dividend payout ratio is 17.60%.

Analysts Set New Price Targets

AMP has been the subject of several research reports. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their target price for the company from $434.00 to $530.00 in a research note on Friday, January 30th. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Argus dropped 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 upped their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $555.67.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of the stock in a transaction 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 completion of the sale, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,658 shares of company stock valued at $8,998,675 over the last three months. Corporate insiders own 0.73% of the company’s stock.

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.