Ameriprise Financial, Inc. $AMP Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 5.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,474 shares of the financial services provider’s stock after buying an additional 979 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Ameriprise Financial were worth $7,765,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at about $742,438,000. AQR Capital Management LLC boosted its stake 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 worth $532,455,000 after purchasing an additional 496,319 shares in the last quarter. M&T Bank Corp grew its position in Ameriprise Financial by 1,440.2% during the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock worth $228,572,000 after purchasing an additional 435,885 shares during the last quarter. First Trust Advisors LP grew its holdings 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 buying an additional 381,754 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Ameriprise Financial by 140.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock valued at $231,805,000 after purchasing an additional 275,659 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In other news, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the sale, the director directly owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMP shares. Piper Sandler increased their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Morgan Stanley upped their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. Jefferies Financial Group lifted their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, BMO Capital Markets boosted their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $553.67.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $527.91 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The business has a 50-day moving average price of $470.45 and a 200 day moving average price of $473.87. The firm has a market cap of $47.46 billion, a PE ratio of 13.13, a P/E/G ratio of 0.95 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.Ameriprise Financial’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.50 earnings per share. Sell-side analysts predict that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio is currently 16.91%.

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.