Railway Pension Investments Ltd Purchases 700 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Railway Pension Investments Ltd increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,800 shares of the financial services provider’s stock after buying an additional 700 shares during the period. Railway Pension Investments Ltd’s holdings in Ameriprise Financial were worth $5,612,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMP. JPMorgan Chase & Co. lifted its position in shares of Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. Norges Bank bought a new position in Ameriprise Financial during the fourth quarter worth $514,539,000. Dimensional Fund Advisors LP increased its holdings in shares of Ameriprise Financial by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock worth $385,620,000 after purchasing an additional 35,931 shares during the period. TD Asset Management Inc grew its position in Ameriprise Financial by 18.8% during the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after buying an additional 111,973 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Ameriprise Financial by 5.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock valued at $247,786,000 after acquiring an additional 32,312 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 3.8 %

AMP stock traded down $15.75 during trading hours on Friday, reaching $402.61. 679,597 shares of the stock were exchanged, compared to its average volume of 551,653. The firm’s 50-day moving average is $430.64 and its 200-day moving average is $419.26. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $449.94. The company has a market cap of $39.99 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.73 and a beta of 1.37. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the firm earned $7.44 EPS. Ameriprise Financial’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.47%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Analyst Ratings Changes

A number of brokerages recently commented on AMP. Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday. Piper Sandler reduced their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. UBS Group dropped their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Evercore ISI boosted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $464.33.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Profile

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.