Ameriprise Financial, Inc. $AMP Stock: Cyndeo Wealth Partners LLC Boosts Holdings

Cyndeo Wealth Partners LLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1,021.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,141 shares of the financial services provider’s stock after acquiring an additional 16,523 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Ameriprise Financial were worth $8,932,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Twin Lakes Capital Management LLC acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Ameriprise Financial in the 2nd quarter worth about $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $28,000. Fiduciary Financial Advisors acquired a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $30,000. Finally, Daytona Street Capital LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $33,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, insider William Williams sold 8,210 shares of the firm’s 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 transaction, the insider owned 6,780 shares in the company, valued at $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 directly owned 3,373 shares in the company, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 29,988 shares of company stock valued at $16,316,497. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price target on Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Zacks Research cut Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Morgan Stanley cut their target price on Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating on the stock in a research note on Friday, October 9th. Finally, Royal Bank Of Canada lifted their target price on Ameriprise Financial from $560.00 to $595.00 in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $572.55.

Ameriprise Financial Stock Performance

AMP stock opened at $500.91 on Friday. The company has a 50-day simple moving average of $533.72 and a 200 day simple moving average of $497.36. The company has a market capitalization of $45.03 billion, a P/E ratio of 12.08, a PEG ratio of 1.03 and a beta of 1.16. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. The firm had revenue of $4.90 billion for 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% on a year-over-year basis. During the same quarter last year, the company earned $9.11 EPS. Sell-side analysts predict that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current fiscal year.

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

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend 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%.

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.