Ameriprise Financial, Inc. $AMP Stock Position Boosted by Godsey & Gibb Inc.

Godsey & Gibb Inc. grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4,459,436.4% during the third quarter, HoldingsChannel.com reports. The firm owned 490,549 shares of the financial services provider’s stock after buying an additional 490,538 shares during the quarter. Ameriprise Financial accounts for approximately 16.6% of Godsey & Gibb Inc.’s investment portfolio, making the stock its biggest holding. Godsey & Gibb Inc.’s holdings in Ameriprise Financial were worth $241,522,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Rexford Capital Inc. grew its holdings in shares of Ameriprise Financial by 19.5% during the first quarter. Rexford Capital Inc. now owns 147 shares of the financial services provider’s stock worth $65,000 after buying an additional 24 shares in the last quarter. North Dakota State Investment Board raised its position in Ameriprise Financial by 0.9% in the 2nd quarter. North Dakota State Investment Board now owns 2,716 shares of the financial services provider’s stock valued at $1,246,000 after buying an additional 24 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in Ameriprise Financial by 2.8% in the 2nd quarter. HBK Sorce Advisory LLC now owns 892 shares of the financial services provider’s stock valued at $409,000 after acquiring an additional 24 shares in the last quarter. Fulton Bank N.A. lifted its stake in Ameriprise Financial by 0.4% in the 2nd quarter. Fulton Bank N.A. now owns 6,688 shares of the financial services provider’s stock valued at $3,068,000 after acquiring an additional 25 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its stake in Ameriprise Financial by 5.0% in the 2nd quarter. Revolve Wealth Partners LLC now owns 529 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 25 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.6%

AMP opened at $496.19 on Thursday. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. The stock has a market cap of $44.61 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.01 and a beta of 1.16. The stock’s fifty day simple moving average is $535.87 and its 200 day simple moving average is $496.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. Ameriprise Financial’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $9.11 EPS. As a group, research analysts expect that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current year.

Ameriprise Financial declared that its Board of Directors has approved a share repurchase plan on Tuesday, September 29th that permits the company to buy back $5.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is currently 16.40%.

Insider Activity at Ameriprise Financial

In other news, CFO Walter Berman sold 11,012 shares of the business’s stock in a transaction that occurred 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 owned 5,609 shares in the company, valued at $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Deirdre Mcgraw sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on AMP shares. BMO Capital Markets reduced their price objective on shares of Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating for the company in a research note on Tuesday, October 6th. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Zacks Research cut Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Piper Sandler increased their price objective on Ameriprise Financial from $518.00 to $561.00 in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group decreased their target price on shares of Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $572.55.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.

Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.