3,344 Shares in Ameriprise Financial, Inc. $AMP Acquired by Pension & Wealth Management Advisors Inc.

Key Points

• Pension & Wealth Management Advisors acquired 3,344 shares of Ameriprise Financial worth approximately $1.65 million, while institutional investors collectively own 83.95% of AMP.
• Ameriprise reported quarterly EPS of $11.07, beating estimates of $10.81, with revenue rising 11.6% year over year to $4.90 billion. The company also authorized a $5.50 billion share buyback and maintains a $1.70 quarterly dividend.
• AMP shares recently traded at $500.91, down 0.3%, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $572.55.

Pension & Wealth Management Advisors Inc. acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,344 shares of the financial services provider's stock, valued at approximately $1,646,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMP. Howard Capital Management LLC increased its stake in Ameriprise Financial by 1,433.8% in the 3rd quarter. Howard Capital Management LLC now owns 9,065 shares of the financial services provider's stock worth $4,463,000 after acquiring an additional 8,474 shares during the last quarter. Chemistry Wealth Management LLC grew its position in Ameriprise Financial by 7.7% in the third quarter. Chemistry Wealth Management LLC now owns 4,009 shares of the financial services provider's stock worth $1,974,000 after acquiring an additional 288 shares in the last quarter. Baugh & Associates LLC bought a new position in Ameriprise Financial in the third quarter valued at $58,484,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Ameriprise Financial during the third quarter valued at about $196,770,000. Finally, Riverbend Wealth Management LLC lifted its stake in Ameriprise Financial by 3,585.6% during the third quarter. Riverbend Wealth Management LLC now owns 16,401 shares of the financial services provider's stock worth $8,075,000 after purchasing an additional 15,956 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Insider Buying and Selling

In other Ameriprise Financial news, insider William Williams sold 8,210 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deirdre Mcgraw sold 2,400 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,988 shares of company stock valued at $16,316,497 in the last 90 days. 0.60% of the stock is owned by insiders.

Ameriprise Financial Trading Down 0.3%

NYSE AMP traded down $1.67 during trading on Friday, hitting $500.91. 581,724 shares of the company's stock traded hands, compared to its average volume of 647,053. The stock has a fifty day moving average of $533.72 and a two-hundred day moving average of $497.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The firm has a market cap of $45.03 billion, a P/E ratio of 12.08, a PEG ratio of 1.03 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping the consensus estimate of $10.81 by $0.26. The firm 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 company's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.11 earnings per share. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 46.14 EPS for the current year.

Ameriprise Financial announced that its board has approved a share buyback plan on Tuesday, September 29th that permits the company to repurchase $5.50 billion in shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Ameriprise Financial Announces Dividend

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

Wall Street Analyst Weigh In

AMP has been the subject of a number of research reports. BMO Capital Markets cut their price objective on Ameriprise Financial from $560.00 to $520.00 and set a "market perform" rating for the company in a report on Tuesday, October 6th. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Raymond James Financial upped their target price on Ameriprise Financial from $582.00 to $638.00 and gave the stock a "strong-buy" rating in a research note on Friday, August 21st. Royal Bank Of Canada upped their target price on Ameriprise Financial from $560.00 to $595.00 in a research note on Friday, July 24th. Finally, Piper Sandler lifted their price target on shares of Ameriprise Financial from $518.00 to $561.00 in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $572.55.

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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