1,077,058 Shares of Ameriprise Financial, Inc. $AMP Purchased by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors purchased 1.08 million Ameriprise Financial shares worth approximately $530.3 million, making AMP its ninth-largest holding and representing about 1.2% of the company.
• Institutional ownership remains high at 83.95%, while company insiders sold nearly 30,000 shares valued at approximately $16.3 million over the past 90 days.
• Ameriprise beat quarterly earnings and revenue expectations, authorized a $5.5 billion share-repurchase program, and maintains a $1.70 quarterly dividend. Analysts collectively rate the stock “Moderate Buy,” with an average price target of $572.55.

Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,077,058 shares of the financial services provider's stock, valued at approximately $530,290,000. Ameriprise Financial makes up about 2.6% of Fort Washington Investment Advisors Inc. OH's holdings, making the stock its 9th biggest holding. Fort Washington Investment Advisors Inc. OH owned approximately 1.20% of Ameriprise Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp lifted its stake in shares of Ameriprise Financial by 1,279.7% during the second quarter. State Street Corp now owns 63,365,362 shares of the financial services provider's stock valued at $29,069,493,000 after buying an additional 58,772,775 shares during the period. Envestnet Asset Management Inc. boosted its position in Ameriprise Financial by 960.8% during the second quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider's stock worth $1,537,817,000 after acquiring an additional 3,036,128 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in Ameriprise Financial during the third quarter worth approximately $925,211,000. Douglas Lane & Associates LLC purchased a new stake in Ameriprise Financial in the 3rd quarter worth approximately $575,767,000. Finally, Dimensional Fund Advisors LP grew its stake in Ameriprise Financial by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider's stock worth $455,387,000 after acquiring an additional 19,731 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, EVP Deirdre Mcgraw sold 2,400 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the sale, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dawn Brockman sold 472 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the sale, the senior vice president directly owned 713 shares of the company's stock, valued at $398,517.09. The trade was a 39.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,988 shares of company stock valued at $16,316,497 in the last ninety days. Corporate insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Zacks Research downgraded Ameriprise Financial from a "strong-buy" rating to a "hold" rating in a report on Monday, September 21st. Evercore decreased their price objective on Ameriprise Financial from $625.00 to $623.00 in a report on Friday, July 24th. Piper Sandler raised their price objective on Ameriprise Financial from $518.00 to $561.00 in a report on Thursday, July 23rd. Weiss Ratings raised Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 3rd. Finally, BMO Capital Markets lowered their price objective on 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $572.55.

Ameriprise Financial Stock Performance

NYSE AMP opened at $496.19 on Thursday. The firm has a market capitalization of $44.61 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.01 and a beta of 1.16. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. 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 business's 50-day simple moving average is $535.87 and its 200-day simple moving average is $496.87.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued 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. 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 analysts' expectations of $4.87 billion. During the same quarter in the previous year, the business earned $9.11 EPS. The company's revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts predict that Ameriprise Financial, Inc. will post 46.14 EPS for the current year.

Ameriprise Financial announced that its Board of Directors has authorized a share repurchase program on Tuesday, September 29th that allows the company to repurchase $5.50 billion in shares. This buyback authorization allows the financial services provider to buy up to 12.3% of its stock through open market purchases. Share buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Ameriprise Financial Announces Dividend

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

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.

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