212,260 Shares in Ameriprise Financial, Inc. $AMP Purchased by TrinityBridge Ltd

Key Points

• TrinityBridge Ltd acquired 212,260 Ameriprise Financial shares worth approximately $97.3 million in the second quarter, representing 0.24% of AMP and 2.6% of the firm’s portfolio.
• Ameriprise reported quarterly EPS of $11.07, beating estimates of $10.81, while revenue rose 11.6% year over year to $4.90 billion. The company also declared a quarterly dividend of $1.70 per share, a 1.2% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $555.33, while insiders have sold nearly 30,000 shares worth $16.3 million over the past 90 days.

TrinityBridge Ltd acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 212,260 shares of the financial services provider's stock, valued at approximately $97,269,000. Ameriprise Financial accounts for about 2.6% of TrinityBridge Ltd's holdings, making the stock its 13th biggest position. TrinityBridge Ltd owned about 0.24% of Ameriprise Financial at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. SouthState Bank Corp lifted its holdings in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock valued at $25,000 after buying an additional 22 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter valued at $28,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial in the second quarter worth about $28,000. Ares Financial Consulting LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at approximately $32,000. Finally, Prosperity Bancshares Inc bought a new stake in Ameriprise Financial in the 4th quarter valued at $33,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Down 2.2%

Shares of NYSE:AMP opened at $547.54 on Friday. 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 business has a fifty day moving average of $515.71 and a two-hundred day moving average of $481.47. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56. The stock has a market cap of $49.22 billion, a P/E ratio of 13.21, a PEG ratio of 0.75 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $9.11 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be paid a dividend of $1.70 per share. The ex-dividend date is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial's payout ratio is presently 16.40%.

Insiders Place Their Bets

In related news, SVP Dawn M. Brockman sold 472 shares of the business's stock in a transaction that occurred 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 owned 713 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deirdre Davey 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 transaction of $1,339,872.00. Following the sale, the executive vice president owned 3,373 shares of the company's stock, valued at $1,883,078.44. This represents a 41.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on AMP shares. Weiss Ratings raised shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 17th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research report on Friday, July 10th. BMO Capital Markets raised their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Morgan Stanley increased their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of "Moderate Buy" and an average target price of $555.33.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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