11,084 Shares of Ameriprise Financial, Inc. $AMP Purchased by Alliance Wealth Advisors LLC

Key Points

• Alliance Wealth Advisors LLC acquired 11,084 Ameriprise Financial shares worth approximately $5.46 million, making AMP its 13th-largest holding and about 1.6% of its portfolio. Institutional investors collectively own 83.95% of the company.
• Analysts maintain a generally positive outlook, with Ameriprise holding a “Moderate Buy” consensus rating and an average price target of $572.55. Recent targets range from $483 to $638.
• Ameriprise reported quarterly earnings of $11.07 per share, exceeding estimates, while revenue rose 11.6% year over year to $4.90 billion. The company also authorized a $5.5 billion share-repurchase program and pays a $1.70 quarterly dividend.

Alliance Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,084 shares of the financial services provider's stock, valued at approximately $5,457,000. Ameriprise Financial comprises about 1.6% of Alliance Wealth Advisors LLC's investment portfolio, making the stock its 13th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Twin Lakes Capital Management LLC acquired a new position in Ameriprise Financial during the second quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $28,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth about $28,000. Fiduciary Financial Advisors bought a new position in Ameriprise Financial in the second quarter valued at approximately $30,000. Finally, Retirement Wealth Solutions LLC increased its holdings in Ameriprise Financial by 7,300.0% during the third quarter. Retirement Wealth Solutions LLC now owns 74 shares of the financial services provider's stock worth $36,000 after buying an additional 73 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Insiders Place Their Bets

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 472 shares of the business's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Walter Berman sold 11,012 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the completion of the sale, the chief financial officer owned 5,609 shares of the company's stock, valued at $3,079,060.55. The trade was a 66.25% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of research analyst reports. Morgan Stanley dropped their price target 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. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Royal Bank Of Canada increased their price objective on shares of Ameriprise Financial from $560.00 to $595.00 in a research note on Friday, July 24th. Argus raised their target price on Ameriprise Financial from $534.00 to $590.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Raymond James Financial lifted their price target on shares of Ameriprise Financial from $582.00 to $638.00 and gave the company a "strong-buy" rating in a report on Friday, August 21st. One equities research 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently 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 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, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The company has a market cap of $44.61 billion, a P/E ratio of 11.45, a PEG ratio of 1.01 and a beta of 1.16. The company has a fifty day simple moving average of $535.87 and a 200 day simple moving average of $496.87.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts' consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period last year, the firm earned $9.11 earnings per share. The firm's revenue was up 11.6% on a year-over-year basis. 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 approved a stock repurchase plan on Tuesday, September 29th that permits the company to repurchase $5.50 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Share buyback plans are often an indication that the company's management believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were given 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 was Monday, August 3rd. Ameriprise Financial's dividend payout ratio (DPR) is 16.40%.

About Ameriprise Financial

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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