35,749 Ameriprise Financial, Inc. $AMP Shares Acquired by Kintegral Advisory LLC

Key Points

• Kintegral Advisory LLC increased its Ameriprise Financial stake by 1,775% in the third quarter, acquiring 35,749 shares for a total holding valued at approximately $18.6 million. Institutional investors and hedge funds collectively own 83.95% of AMP.
• Analysts maintain a generally positive but cautious outlook, with Ameriprise carrying a “Moderate Buy” consensus rating and an average price target of $572.55. Several firms recently lowered their targets, including Goldman Sachs, BMO Capital Markets, and Bank of America.
• Ameriprise reported quarterly earnings and revenue above expectations, while its board authorized a $5.5 billion share-repurchase program, covering up to 12.3% of outstanding shares. The company also pays a quarterly dividend of $1.70 per share, yielding about 1.4%.

Kintegral Advisory LLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1,775.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,763 shares of the financial services provider's stock after purchasing an additional 35,749 shares during the quarter. Ameriprise Financial makes up 1.3% of Kintegral Advisory LLC's investment portfolio, making the stock its 12th biggest holding. Kintegral Advisory LLC's holdings in Ameriprise Financial were worth $18,593,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AMP. State Street Corp increased its position in Ameriprise Financial by 1,279.7% during the second quarter. State Street Corp now owns 63,365,362 shares of the financial services provider's stock worth $29,069,493,000 after buying an additional 58,772,775 shares during the period. Envestnet Asset Management Inc. lifted its stake in Ameriprise Financial by 960.8% in the second quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider's stock valued at $1,537,817,000 after buying an additional 3,036,128 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Ameriprise Financial by 980.8% in the third quarter. Assenagon Asset Management S.A. now owns 2,069,740 shares of the financial services provider's stock valued at $1,019,036,000 after acquiring an additional 1,878,244 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $925,211,000. Finally, Douglas Lane & Associates LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $575,767,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Dawn Brockman sold 472 shares of the stock in a transaction 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 directly owned 713 shares of the company's stock, valued at $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deirdre Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the transaction, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,988 shares of company stock worth $16,316,497 over the last three months. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMP. Weiss Ratings upgraded shares of 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 research report on Monday, September 21st. BMO Capital Markets decreased 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 research note on Tuesday, October 6th. The Goldman Sachs Group decreased their price target 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. Finally, Bank of America reissued a "buy" rating and set a $570.00 price objective (down from $616.00) on shares of Ameriprise Financial in a research report on Monday, October 5th. One investment 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's stock. According to data from MarketBeat, Ameriprise Financial has an average rating of "Moderate Buy" and a consensus price target of $572.55.

Ameriprise Financial Stock Performance

AMP traded down $1.67 on Friday, hitting $500.91. 581,724 shares of the company traded hands, compared to its average volume of 647,053. The company has a 50 day moving average of $533.72 and a 200-day moving average of $497.36. 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 stock has a market capitalization of $45.03 billion, a PE ratio of 12.08, a PEG ratio of 1.03 and a beta of 1.16. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts' consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%. The company had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.87 billion. During the same period last year, the firm earned $9.11 EPS. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current year.

Ameriprise Financial announced that its board has approved a stock buyback program on Tuesday, September 29th that permits the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board believes its stock is 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 paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial's dividend payout ratio 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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