37,926 Shares of Ameriprise Financial, Inc. $AMP Purchased by Fearless Solutions LLC dba Best Invest

Key Points

• Fearless Solutions LLC dba Best Invest acquired 37,926 Ameriprise Financial shares worth approximately $18.7 million, making AMP its largest portfolio holding at 8.8%. Institutional investors collectively own 83.95% of the company.
• Analysts maintain a generally positive view, with Ameriprise receiving a “Moderate Buy” consensus rating and an average price target of $572.55, despite several recent target reductions.
• Ameriprise reported quarterly EPS of $11.07, exceeding estimates, and announced a $5.50 billion share-repurchase authorization alongside a quarterly dividend of $1.70 per share.

Fearless Solutions LLC dba Best Invest acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 37,926 shares of the financial services provider's stock, valued at approximately $18,673,000. Ameriprise Financial comprises about 8.8% of Fearless Solutions LLC dba Best Invest's portfolio, making the stock its largest position.

A number of other institutional investors have also made changes to their positions in AMP. Twin Lakes Capital Management LLC acquired a new stake in Ameriprise Financial in the 2nd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in Ameriprise Financial during the second quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC acquired a new position in Ameriprise Financial during the first quarter valued at approximately $28,000. Fiduciary Financial Advisors acquired a new position in Ameriprise Financial during the second quarter valued at approximately $30,000. Finally, Retirement Wealth Solutions LLC grew its holdings in Ameriprise Financial by 7,300.0% during the third quarter. Retirement Wealth Solutions LLC now owns 74 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 73 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMP. BMO Capital Markets dropped their price target on shares of Ameriprise Financial from $560.00 to $520.00 and set a "market perform" rating on the stock in a research report on Tuesday, October 6th. Royal Bank Of Canada upped their price objective on shares of Ameriprise Financial from $560.00 to $595.00 in a report on Friday, July 24th. Bank of America reaffirmed a "buy" rating and set a $570.00 price objective (down from $616.00) on shares of Ameriprise Financial in a report on Monday, October 5th. Evercore lowered their price target on Ameriprise Financial from $625.00 to $623.00 in a research report on Friday, July 24th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $572.55.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $493.03 on Wednesday. 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 business has a 50 day simple moving average of $537.16 and a 200 day simple moving average of $496.54. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The company has a market capitalization of $44.32 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.03 and a beta of 1.16.

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, beating analysts' consensus estimates of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%. The business's revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $9.11 earnings per share. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 46.14 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued a $1.70 dividend. The ex-dividend date of this dividend 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 presently 16.40%.

Ameriprise Financial declared that its board has initiated a share repurchase plan 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 purchase up to 12.3% of its shares through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, insider William Williams sold 8,210 shares of Ameriprise Financial stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the transaction, the insider directly owned 6,780 shares of the company's stock, valued at $3,656,793. This trade represents a 54.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Deirdre Mcgraw sold 2,400 shares of the business's stock in a transaction dated 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. Over the last 90 days, insiders have sold 29,988 shares of company stock worth $16,316,497. Company insiders own 0.60% of the company's stock.

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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