Advisory Alpha LLC Acquires New Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Advisory Alpha LLC has acquired a new stake of 548 shares in Ameriprise Financial, valued at approximately $265,000, as reflected in their recent 13F filing with the SEC.
• Various institutional investors increased their stakes in Ameriprise Financial, with 83.95% of the stock currently owned by such investors, reflecting significant interest in the company.
• Ameriprise Financial reported an EPS of $9.11 for its latest quarter, surpassing estimates by $0.11, while also announcing a quarterly dividend of $1.60 per share.

Advisory Alpha LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 548 shares of the financial services provider's stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after acquiring an additional 50 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Ameriprise Financial in the 4th quarter worth approximately $633,000. Graham Capital Management L.P. acquired a new stake in Ameriprise Financial in the 4th quarter worth approximately $775,000. Gotham Asset Management LLC lifted its holdings in shares of Ameriprise Financial by 10.6% during the fourth quarter. Gotham Asset Management LLC now owns 1,884 shares of the financial services provider's stock worth $1,003,000 after buying an additional 180 shares during the last quarter. Finally, Group One Trading LLC lifted its holdings in shares of Ameriprise Financial by 178.0% during the fourth quarter. Group One Trading LLC now owns 278 shares of the financial services provider's stock worth $148,000 after buying an additional 178 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AMP shares. Morgan Stanley lowered Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their target price for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Royal Bank Of Canada upped their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. William Blair lowered Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Piper Sandler raised their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Finally, Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $534.71.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $491.77 on Thursday. The stock has a fifty day moving average price of $517.49 and a 200-day moving average price of $503.42. The company has a market cap of $46.36 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.05 and a beta of 1.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company's revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $8.72 EPS. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's dividend payout ratio is currently 19.91%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares of the company's stock, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 9,929 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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