24,640 Shares of Ameriprise Financial, Inc. $AMP Purchased by Community Trust & Investment Co.

Key Points

• Community Trust & Investment Co. acquired 24,640 Ameriprise Financial shares worth approximately $12.1 million during the third quarter. Institutional investors own 83.95% of AMP’s outstanding stock.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $572.55, although some firms recently downgraded the stock or lowered their targets.
• Ameriprise authorized a $5.5 billion share-repurchase program, covering up to 12.3% of outstanding shares. The company also reported quarterly EPS of $11.07, exceeding estimates, and pays an annualized dividend of $6.80 per share.

Community Trust & Investment Co. acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 24,640 shares of the financial services provider's stock, valued at approximately $12,132,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Twin Lakes Capital Management LLC acquired a new position in shares of Ameriprise Financial in the 2nd quarter worth approximately $25,000. Cassaday & Co Wealth Management LLC acquired a new stake in Ameriprise Financial in the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial during the second quarter valued at approximately $28,000. Fiduciary Financial Advisors acquired a new position in Ameriprise Financial during the 2nd quarter worth $30,000. Finally, Evolution Wealth Management Inc. bought a new position in Ameriprise Financial in the first quarter valued at about $34,000. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In other news, EVP Deirdre Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction dated 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 directly owned 3,373 shares of the company's stock, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William Williams sold 8,210 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the sale, the insider owned 6,780 shares of the company's stock, valued at $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. 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 worth $16,316,497. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMP. Weiss Ratings upgraded Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 3rd. Zacks Research downgraded shares of Ameriprise Financial from a "strong-buy" rating to a "hold" rating in a report on Monday, September 21st. Morgan Stanley cut their price objective on shares of Ameriprise Financial from $489.00 to $483.00 and set an "underweight" rating on the stock in a research report on Friday, October 9th. Evercore dropped their target price on Ameriprise Financial from $625.00 to $623.00 in a research report on Friday, July 24th. Finally, Bank of America reissued a "buy" rating and set a $570.00 price target (down from $616.00) on shares of Ameriprise Financial in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $572.55.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $502.32 on Friday. 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 stock's fifty day moving average price is $534.72 and its two-hundred day moving average price is $497.33. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The firm has a market cap of $45.16 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 1.02 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly 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. The business had revenue of $4.90 billion for 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 firm's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.11 earnings per share. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 46.14 EPS for the current year.

Ameriprise Financial declared that its Board of Directors has initiated a share repurchase plan on Tuesday, September 29th that allows the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Ameriprise Financial Announces Dividend

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

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