8,114 Shares of Ameriprise Financial, Inc. $AMP Bought by Eagle Strategies LLC

Eagle Strategies LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,114 shares of the financial services provider’s stock, valued at approximately $3,995,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Twin Lakes Capital Management LLC purchased a new position in Ameriprise Financial in the 2nd quarter worth approximately $25,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ameriprise Financial during the second quarter valued at approximately $28,000. Fiduciary Financial Advisors purchased a new stake in shares of Ameriprise Financial during the second quarter valued at approximately $30,000. Finally, Daytona Street Capital LLC purchased a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $33,000. 83.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider William Williams sold 8,210 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was 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 owned 6,780 shares in the company, valued at $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dawn Brockman sold 472 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president owned 713 shares of the company’s stock, valued at approximately $398,517.09. This represents a 39.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,988 shares of company stock valued at $16,316,497 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Down 0.3%

Shares of NYSE:AMP opened at $500.91 on Friday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The company has a market cap of $45.03 billion, a PE ratio of 12.08, a P/E/G ratio of 1.03 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s 50-day moving average is $533.72 and its 200 day moving average is $497.36.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the prior year, the company posted $9.11 EPS. Ameriprise Financial’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.14 EPS for the current year.

Ameriprise Financial declared that its Board of Directors has approved a stock buyback program on Tuesday, September 29th that authorizes the company to repurchase $5.50 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Ameriprise Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Evercore cut their target price on shares of Ameriprise Financial from $625.00 to $623.00 in a report on Friday, July 24th. Argus upped their price target on shares of Ameriprise Financial from $534.00 to $590.00 and gave the company a “buy” rating in a report on Friday, July 31st. BMO Capital Markets dropped their price target on shares of Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating for the company in a research report on Tuesday, October 6th. Zacks Research cut shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Finally, Jefferies Financial Group cut their price target on shares of Ameriprise Financial from $645.00 to $638.00 in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $572.55.

Ameriprise Financial 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.