15,188 Shares in Ameriprise Financial, Inc. $AMP Bought by Triangle Securities Wealth Management

Key Points

• Triangle Securities Wealth Management acquired 15,188 Ameriprise Financial shares worth approximately $7.48 million, making the stock its 19th-largest holding and 1.4% of its portfolio. Institutional investors and hedge funds own 83.95% of AMP.
• Analysts remain moderately bullish, with a consensus price target of $572.55, although several firms recently lowered their targets and ratings range from Strong Buy to Sell.
• Ameriprise exceeded quarterly earnings and revenue estimates, while announcing a $5.50 billion share-repurchase program and maintaining a $1.70 quarterly dividend, equivalent to a 1.4% yield.

Triangle Securities Wealth Management acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 15,188 shares of the financial services provider's stock, valued at approximately $7,478,000. Ameriprise Financial comprises about 1.4% of Triangle Securities Wealth Management's investment portfolio, making the stock its 19th largest holding.

Other institutional investors have also recently modified their holdings of the company. Twin Lakes Capital Management LLC purchased a new position in Ameriprise Financial during the second quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial in the second quarter worth $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ameriprise Financial in the first quarter valued at $28,000. Fiduciary Financial Advisors purchased a new stake in shares of Ameriprise Financial in the second quarter valued at $30,000. Finally, Retirement Wealth Solutions LLC lifted its position in shares of Ameriprise Financial by 7,300.0% in the third quarter. Retirement Wealth Solutions LLC now owns 74 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 73 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMP. Zacks Research lowered Ameriprise Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 21st. Morgan Stanley cut their target price on shares of Ameriprise Financial from $489.00 to $483.00 and set an "underweight" rating for the company in a research note on Friday, October 9th. The Goldman Sachs Group cut 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. Bank of America restated a "buy" rating and issued a $570.00 target price (down from $616.00) on shares of Ameriprise Financial in a report on Monday, October 5th. Finally, BMO Capital Markets lowered 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 report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $572.55.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 472 shares of the business's stock in a transaction dated 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 owned 713 shares of the company's stock, valued at approximately $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Williams sold 8,210 shares of the company's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the sale, the insider owned 6,780 shares of the company's stock, valued at $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 29,988 shares of company stock valued at $16,316,497. Corporate insiders own 0.60% of the company's stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $496.19 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The company has a market cap 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 fifty-two week low of $422.37 and a fifty-two week high of $572.56. The firm's 50 day moving average is $535.87 and its two-hundred day moving average is $496.87.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced 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 quarter last year, the business earned $9.11 EPS. Ameriprise Financial's revenue for the quarter was up 11.6% on a year-over-year basis. Analysts expect that Ameriprise Financial, Inc. will post 46.14 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial's dividend payout ratio (DPR) is 16.40%.

Ameriprise Financial announced that its Board of Directors has initiated a share buyback program 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 purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

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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