TrinityBridge Ltd Makes New Investment in Ameriprise Financial, Inc. $AMP

TrinityBridge Ltd bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 212,260 shares of the financial services provider’s stock, valued at approximately $97,269,000. Ameriprise Financial comprises 2.6% of TrinityBridge Ltd’s investment portfolio, making the stock its 13th largest holding.

A number of other institutional investors have also recently bought and sold shares of AMP. SouthState Bank Corp raised its holdings in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 22 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in Ameriprise Financial during the 1st quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial during the 2nd quarter worth approximately $28,000. Ares Financial Consulting LLC acquired a new stake in Ameriprise Financial during the 4th quarter valued at $32,000. Finally, Prosperity Bancshares Inc acquired a new stake in Ameriprise Financial during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. This represents a 66.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the transaction, the insider directly owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. The trade was a 54.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on AMP shares. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. BMO Capital Markets raised their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Morgan Stanley upped their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Moderate Buy” and a consensus price target of $555.33.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $547.54 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50 day moving average price of $515.71 and a 200 day moving average price of $481.47. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The stock has a market capitalization of $49.22 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $4.87 billion. During the same quarter in the prior year, the company earned $9.11 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts predict that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s payout ratio is presently 16.40%.

Ameriprise Financial Profile

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.