AustralianSuper Pty Ltd Buys 74,705 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

AustralianSuper Pty Ltd raised its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 41.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 256,309 shares of the financial services provider's stock after purchasing an additional 74,705 shares during the quarter. AustralianSuper Pty Ltd owned 0.26% of Ameriprise Financial worth $136,467,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new stake in Ameriprise Financial during the 4th quarter valued at $30,000. Oakworth Capital Inc. bought a new position in shares of Ameriprise Financial during the third quarter valued at about $31,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth about $36,000. Golden State Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter worth about $38,000. Finally, Albion Financial Group UT purchased a new position in Ameriprise Financial during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Activity

In related news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company's stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMP. Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Piper Sandler lifted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $510.44.

Ameriprise Financial Stock Up 0.3 %

NYSE AMP traded up $1.78 during trading hours on Wednesday, reaching $548.84. 447,313 shares of the company's stock traded hands, compared to its average volume of 557,325. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. The firm has a 50-day simple moving average of $541.06 and a 200 day simple moving average of $508.17. The firm has a market cap of $53.24 billion, a PE ratio of 16.60, a PEG ratio of 1.19 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. Ameriprise Financial's dividend payout ratio is currently 17.91%.

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.