Kentucky Retirement Systems Raises Stake in Ameriprise Financial, Inc. $AMP

Kentucky Retirement Systems boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 167.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,062 shares of the financial services provider’s stock after buying an additional 10,063 shares during the quarter. Kentucky Retirement Systems’ holdings in Ameriprise Financial were worth $7,138,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AMP. PFG Investments LLC boosted its stake in Ameriprise Financial by 1.4% in the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock valued at $729,000 after acquiring an additional 21 shares during the last quarter. Institute for Wealth Management LLC. increased its stake in shares of Ameriprise Financial by 3.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 21 shares during the last quarter. EPG Wealth Management LLC raised its holdings in shares of Ameriprise Financial by 0.8% in the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 21 shares during the period. Essex Financial Services Inc. raised its holdings in shares of Ameriprise Financial by 2.4% in the 4th quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 21 shares during the period. Finally, SouthState Bank Corp lifted its stake in Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares in the company, valued at $2,934,729. This trade represents a 16.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 23,559 shares of company stock valued at $12,182,382. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Down 1.0%

Ameriprise Financial stock opened at $541.09 on Thursday. The firm has a 50 day simple moving average of $480.85 and a 200 day simple moving average of $475.59. The company has a current ratio of 0.71, a quick ratio of 0.66 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 $553.46. The firm has a market capitalization of $48.64 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 0.74 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the business posted $9.11 earnings per share. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts predict that Ameriprise Financial, Inc. will post 45.84 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 16.40%.

Analysts Set New Price Targets

Several brokerages have weighed in on AMP. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Jefferies Financial Group boosted their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Morgan Stanley upped their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, BMO Capital Markets boosted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Two investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $555.33.

Trending Headlines about Ameriprise Financial

Here are the key news stories impacting Ameriprise Financial this week:

• Positive Sentiment: Zacks Research upgraded Ameriprise Financial from “Hold” to “Strong Buy,” citing improving earnings prospects. The upgrade could support investor demand for the shares. Zacks rating upgrade article
• Positive Sentiment: AMP was included on Zacks’ list of top-value stocks with a Rank #1 “Strong Buy” rating, reinforcing the view that its valuation and earnings outlook remain attractive. Zacks best value stocks article
• Positive Sentiment: A second Zacks analysis highlighted Ameriprise as a potential value investment, while a quarterly review pointed to asset growth, adviser productivity and strategic platform expansion as key business drivers. Ameriprise value stock analysis
• Neutral Sentiment: Ameriprise was recognized by J.D. Power for outstanding customer service for the fifth consecutive year. The award supports brand strength and client retention but is unlikely to materially change near-term financial forecasts. J.D. Power customer service recognition
• Negative Sentiment: Insider William Jerryl Williams sold 16,104 AMP shares across July 27–28 for approximately $8.67 million, reducing his holdings in two transactions by 42.04% and 54.77%, respectively. The sizable sales may pressure sentiment, particularly with the stock trading near its 52-week high. SEC insider transaction filing

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.