OMERS ADMINISTRATION Corp Buys Shares of 69,700 Ameriprise Financial, Inc. $AMP

OMERS ADMINISTRATION Corp bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 69,700 shares of the financial services provider’s stock, valued at approximately $31,976,000.

Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Ameriprise Financial by 5.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after purchasing an additional 10,782 shares during the period. National Pension Service raised its holdings in shares of Ameriprise Financial by 8.2% in the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after purchasing an additional 12,563 shares in the last quarter. LSV Asset Management lifted its position in shares of Ameriprise Financial by 1.3% in the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock worth $133,381,000 after purchasing an additional 3,548 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $72,050,000. Finally, D.A. Davidson & CO. raised its stake in Ameriprise Financial by 116.5% in the fourth quarter. D.A. Davidson & CO. now owns 13,380 shares of the financial services provider’s stock worth $6,561,000 after buying an additional 7,200 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $556.56 on Monday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The company has a market cap of $50.03 billion, a PE ratio of 13.42, a P/E/G ratio of 0.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The business has a 50-day simple moving average of $517.67 and a two-hundred day simple moving average of $481.65.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data 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 firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.11 earnings per share. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s payout ratio is presently 16.40%.

Insider Activity at Ameriprise Financial

In related news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the sale, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. The trade was a 39.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,988 shares of company stock valued at $16,316,497 over the last three months. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Jefferies Financial Group increased their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Piper Sandler increased their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods increased their target price on shares of 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 investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $555.33.

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.