Ameriprise Financial, Inc. $AMP Shares Acquired by Hengehold Capital Management LLC

Key Points

• Institutional ownership increased sharply: Hengehold Capital Management raised its Ameriprise Financial stake by 742.6% to 7,280 shares, while institutional investors and hedge funds collectively own 83.95% of AMP.
• Analyst sentiment remains positive: Ameriprise has a consensus “Moderate Buy” rating and an average price target of $572.55, despite mixed recent target revisions.
• Strong financial performance and shareholder returns: The company beat quarterly earnings estimates, reported 11.6% year-over-year revenue growth, maintains a $1.70 quarterly dividend, and authorized a $5.5 billion share-repurchase program.

Hengehold Capital Management LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 742.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,280 shares of the financial services provider's stock after acquiring an additional 6,416 shares during the period. Hengehold Capital Management LLC's holdings in Ameriprise Financial were worth $3,584,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AMP. State Street Corp boosted its stake in shares of Ameriprise Financial by 1,279.7% in the 2nd quarter. State Street Corp now owns 63,365,362 shares of the financial services provider's stock valued at $29,069,493,000 after purchasing an additional 58,772,775 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of 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 worth $1,537,817,000 after purchasing an additional 3,036,128 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Ameriprise Financial during the 3rd quarter worth about $925,211,000. Assenagon Asset Management S.A. increased its position in shares of Ameriprise Financial by 980.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,069,740 shares of the financial services provider's stock worth $1,019,036,000 after purchasing an additional 1,878,244 shares in the last quarter. Finally, Douglas Lane & Associates LLC acquired a new stake in shares of Ameriprise Financial during the 3rd quarter worth about $575,767,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the subject of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Raymond James Financial upped their price objective on shares of Ameriprise Financial from $582.00 to $638.00 and gave the stock a "strong-buy" rating in a research note on Friday, August 21st. Argus upped their price objective 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. BMO Capital Markets dropped 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 report on Tuesday, October 6th. Finally, Weiss Ratings upgraded shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 3rd. One equities 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $572.55.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Deirdre Mcgraw sold 2,400 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Dawn Brockman sold 472 shares of the business's stock in a transaction dated 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 transaction, the senior vice president directly owned 713 shares of the company's stock, valued at approximately $398,517.09. This represents a 39.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is owned by insiders.

Ameriprise Financial Price Performance

Ameriprise Financial stock traded down $1.67 on Friday, reaching $500.91. The company's stock had a trading volume of 581,724 shares, compared to its average volume of 647,053. The business's fifty day moving average price is $533.72 and its 200 day moving average price is $497.36. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $45.03 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.03 and a beta of 1.16. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share 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 analyst estimates of $4.87 billion. During the same period last year, the company posted $9.11 earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts expect that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Ameriprise Financial announced that its board has authorized a share repurchase program on Tuesday, September 29th that permits the company to repurchase $5.50 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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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