Ontario Teachers Pension Plan Board Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Ontario Teachers Pension Plan Board purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,456 shares of the financial services provider’s stock, valued at approximately $1,515,000.

Other institutional investors have also bought and sold shares of the company. Retirement Group LLC bought a new stake in shares of Ameriprise Financial in the first quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 1st quarter worth about $28,000. Sound Income Strategies LLC bought a new stake in Ameriprise Financial in the 1st quarter valued at about $32,000. Annapolis Financial Services LLC lifted its holdings in Ameriprise Financial by 928.6% during the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 65 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is owned by insiders.

Ameriprise Financial Price Performance

Shares of AMP stock traded down $0.84 on Tuesday, reaching $419.17. The company’s stock had a trading volume of 5,555 shares, compared to its average volume of 480,128. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $449.94. The stock’s 50 day simple moving average is $432.31 and its 200-day simple moving average is $416.78. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $41.63 billion, a P/E ratio of 14.30, a PEG ratio of 0.65 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the company posted $7.25 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 34.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Argus boosted their target price on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. The Goldman Sachs Group raised their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Evercore ISI lifted their price target on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley increased their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $462.89.

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.