Ameriprise Financial, Inc. $AMP Position Increased by Krilogy Financial LLC

Key Points

• Krilogy Financial increased its Ameriprise Financial position by 380.7% in the third quarter, bringing its holdings to 8,533 shares valued at approximately $4.2 million. Institutional investors and hedge funds collectively own 83.95% of AMP.
• Ameriprise reported quarterly EPS of $11.07, beating estimates of $10.81, while revenue rose 11.6% year over year to $4.90 billion. The company also authorized a $5.5 billion share-repurchase program covering up to 12.3% of outstanding shares.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $572.55, although Goldman Sachs and BMO recently lowered their targets. Ameriprise pays a $1.70 quarterly dividend, representing a 1.4% yield.

Krilogy Financial LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 380.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,533 shares of the financial services provider's stock after purchasing an additional 6,758 shares during the period. Krilogy Financial LLC's holdings in Ameriprise Financial were worth $4,201,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. State Street Corp boosted its stake 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 in the last quarter. Envestnet Asset Management Inc. increased its holdings in Ameriprise Financial by 960.8% in the 2nd 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 period. Artemis Investment Management LLP bought a new stake in Ameriprise Financial in the 3rd quarter valued at $925,211,000. Douglas Lane & Associates LLC bought a new stake in Ameriprise Financial in the 3rd quarter valued at $575,767,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Ameriprise Financial by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider's stock valued at $455,387,000 after buying an additional 19,731 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $496.19 on Thursday. 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's fifty day moving average price is $535.87 and its two-hundred day moving average price is $496.87. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The stock has a market capitalization of $44.61 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 1.01 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. 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 business earned $9.11 earnings per share. The business's revenue was up 11.6% on a year-over-year basis. As a group, analysts predict that Ameriprise Financial, Inc. will post 46.14 EPS for the current fiscal year.

Ameriprise Financial declared that its Board of Directors has initiated a stock buyback plan on Tuesday, September 29th that allows the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a 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%.

Insider Activity

In other Ameriprise Financial news, CFO Walter Berman sold 11,012 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deirdre Mcgraw sold 2,400 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction 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. This represents a 41.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMP. The Goldman Sachs Group reduced their price objective on shares of Ameriprise Financial from $562.00 to $524.00 and set a "neutral" rating for the company in a report on Friday, October 2nd. BMO Capital Markets decreased their target price 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 lifted their target price on shares of Ameriprise Financial from $560.00 to $595.00 in a research report on Friday, July 24th. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Finally, Zacks Research lowered shares of Ameriprise Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 21st. One equities 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $572.55.

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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