FinTrust Capital Advisors LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 83.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415 shares of the financial services provider’s stock after purchasing an additional 189 shares during the period. FinTrust Capital Advisors LLC’s holdings in Ameriprise Financial were worth $64,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nachman Norwood & Parrott Inc purchased a new stake in Ameriprise Financial in the 3rd quarter worth about $26,000. Provident Wealth Management LLC purchased a new stake in Ameriprise Financial in the 3rd quarter worth about $32,000. Ovata Capital Management Ltd purchased a new stake in Ameriprise Financial in the 2nd quarter worth about $36,000. WASHINGTON TRUST Co increased its holdings in Ameriprise Financial by 1,200.0% in the 3rd quarter. WASHINGTON TRUST Co now owns 260 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 240 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Ameriprise Financial in the 2nd quarter worth about $58,000. 80.35% of the stock is owned by institutional investors.
AMP has been the subject of several recent research reports. Piper Sandler lifted their price objective on Ameriprise Financial from $178.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. CSFB decreased their price objective on Ameriprise Financial from $200.00 to $194.00 and set an “outperform” rating for the company in a report on Monday, September 28th. ValuEngine raised Ameriprise Financial from a “strong sell” rating to a “sell” rating in a report on Friday, September 11th. Barclays began coverage on Ameriprise Financial in a report on Thursday, August 13th. They set an “overweight” rating and a $195.00 target price for the company. Finally, Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $166.00 target price for the company in a report on Thursday, October 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $181.33.
In related news, insider Joseph Edward Sweeney sold 10,927 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $167.73, for a total value of $1,832,785.71. Following the completion of the sale, the insider now owns 52,161 shares in the company, valued at approximately $8,748,964.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Karen Wilson Thissen sold 620 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $159.22, for a total value of $98,716.40. Following the completion of the sale, the vice president now owns 14,164 shares of the company’s stock, valued at approximately $2,255,192.08. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Shares of AMP opened at $179.80 on Friday. The company has a market cap of $21.21 billion, a PE ratio of 12.88 and a beta of 1.78. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average price of $170.00 and a 200-day moving average price of $153.69. Ameriprise Financial, Inc. has a 12-month low of $80.01 and a 12-month high of $188.57.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Monday, November 2nd. The financial services provider reported $4.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.17 by $0.10. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.99 billion. Ameriprise Financial had a return on equity of 33.79% and a net margin of 15.16%. As a group, analysts predict that Ameriprise Financial, Inc. will post 13.9 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 20th. Stockholders of record on Monday, November 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, November 6th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.31%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 25.84%.
Ameriprise Financial announced that its board has authorized a share buyback program on Tuesday, September 29th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 12.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Ameriprise Financial Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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