490,538 Ameriprise Financial, Inc. $AMP Shares Acquired by Godsey & Gibb Inc.

Key Points

• Godsey & Gibb Inc. substantially increased its Ameriprise Financial stake, acquiring 490,538 shares to own 490,549 shares valued at approximately $241.5 million, or 0.55% of AMP.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $572.55, while Ameriprise shares recently opened at $496.19. The company’s latest quarterly results exceeded expectations, with $11.07 in EPS and $4.90 billion in revenue.
• Ameriprise declared a quarterly dividend of $1.70 per share and authorized a $5.5 billion share-repurchase program, allowing buybacks of up to 12.3% of outstanding shares.

Godsey & Gibb Inc. raised its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4,459,436.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 490,549 shares of the financial services provider's stock after acquiring an additional 490,538 shares during the period. Ameriprise Financial comprises approximately 16.6% of Godsey & Gibb Inc.'s holdings, making the stock its largest holding. Godsey & Gibb Inc. owned 0.55% of Ameriprise Financial worth $241,522,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Rexford Capital Inc. boosted its position in shares of Ameriprise Financial by 19.5% during the 1st quarter. Rexford Capital Inc. now owns 147 shares of the financial services provider's stock valued at $65,000 after acquiring an additional 24 shares in the last quarter. North Dakota State Investment Board lifted its holdings in shares of Ameriprise Financial by 0.9% during the second quarter. North Dakota State Investment Board now owns 2,716 shares of the financial services provider's stock valued at $1,246,000 after acquiring an additional 24 shares during the period. HBK Sorce Advisory LLC increased its position in shares of Ameriprise Financial by 2.8% during the 2nd quarter. HBK Sorce Advisory LLC now owns 892 shares of the financial services provider's stock worth $409,000 after purchasing an additional 24 shares in the last quarter. Fulton Bank N.A. increased its position in shares of Ameriprise Financial by 0.4% during the 2nd quarter. Fulton Bank N.A. now owns 6,688 shares of the financial services provider's stock worth $3,068,000 after purchasing an additional 25 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its holdings in Ameriprise Financial by 5.0% during the 2nd quarter. Revolve Wealth Partners LLC now owns 529 shares of the financial services provider's stock valued at $243,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on AMP. The Goldman Sachs Group decreased their price target on Ameriprise Financial from $562.00 to $524.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Royal Bank Of Canada upped their price target on shares of Ameriprise Financial from $560.00 to $595.00 in a research report on Friday, July 24th. BMO Capital Markets lowered their price objective on shares of Ameriprise Financial from $560.00 to $520.00 and set a "market perform" rating for the company in a research report on Tuesday, October 6th. Piper Sandler raised their price objective on shares of Ameriprise Financial from $518.00 to $561.00 in a research report on Thursday, July 23rd. Finally, Argus boosted their target price on shares of Ameriprise Financial from $534.00 to $590.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. One research 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $572.55.

Ameriprise Financial Price Performance

Shares of AMP opened at $496.19 on Thursday. The stock has a market cap of $44.61 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 1.01 and a beta of 1.16. The stock's 50-day moving average price is $535.87 and its two-hundred day moving average price is $496.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56.

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

Ameriprise Financial Announces Dividend

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

Ameriprise Financial announced that its board has approved a share buyback program on Tuesday, September 29th that allows the company to buy back $5.50 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Share buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, SVP Dawn M. Brockman sold 472 shares of the firm's 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 sale, the senior vice president owned 713 shares of the company's stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deirdre Mcgraw sold 2,400 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was 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 in the company, valued at $1,883,078.44. The trade was a 41.57% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is owned by company insiders.

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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