OLD National Bancorp IN Boosts Stock Holdings in Ameriprise Financial, Inc. $AMP

OLD National Bancorp IN boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3,435.7% during the second quarter, Holdings Channel.com reports. The fund owned 16,653 shares of the financial services provider’s stock after acquiring an additional 16,182 shares during the period. OLD National Bancorp IN’s holdings in Ameriprise Financial were worth $8,888,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AMP. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 21.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after acquiring an additional 1,023,002 shares during the last quarter. Nuveen LLC bought a new stake in Ameriprise Financial in the 1st quarter worth $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Ameriprise Financial by 55.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after acquiring an additional 796,925 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Ameriprise Financial by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after acquiring an additional 266,631 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Ameriprise Financial by 78.6% in the 1st quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock worth $202,869,000 after acquiring an additional 189,525 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AMP shares. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a report on Saturday, September 27th. Morgan Stanley cut their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday. BMO Capital Markets started coverage on shares of Ameriprise Financial in a research note on Friday. They set a “market perform” rating and a $525.00 target price on the stock. Piper Sandler lifted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Finally, William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $535.14.

Insider Activity at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 0.2%

NYSE:AMP opened at $491.67 on Friday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The company’s 50-day simple moving average is $502.93 and its 200 day simple moving average is $502.12. The firm has a market capitalization of $46.35 billion, a P/E ratio of 15.30, a PEG ratio of 1.11 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the firm posted $8.72 earnings per share. Ameriprise Financial’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is currently 19.91%.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.