Ameriprise Financial, Inc. $AMP Shares Bought by Investors Research Corp

Key Points

• Investors Research Corp dramatically increased its Ameriprise Financial stake by 124,723.3% in the third quarter, bringing its holdings to 37,447 shares valued at approximately $18.4 million. Institutional investors and hedge funds collectively own 83.95% of AMP.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $559.80, despite differing individual targets and ratings.
• Ameriprise reported quarterly earnings of $11.07 per share, exceeding expectations, while revenue rose 11.6% year over year. The company also pays a $1.70 quarterly dividend and authorized a $5.5 billion share-repurchase program.

Investors Research Corp lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 124,723.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,447 shares of the financial services provider's stock after acquiring an additional 37,417 shares during the quarter. Ameriprise Financial makes up about 3.1% of Investors Research Corp's portfolio, making the stock its 7th biggest holding. Investors Research Corp's holdings in Ameriprise Financial were worth $18,437,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AMP. Silvia Mccoll Wealth Management LLC bought a new position in shares of Ameriprise Financial in the third quarter valued at about $206,000. Bank & Trust Co boosted its holdings in shares of Ameriprise Financial by 57,991.2% during the 3rd quarter. Bank & Trust Co now owns 33,112 shares of the financial services provider's stock worth $16,303,000 after buying an additional 33,055 shares during the period. PFW Advisors LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth about $2,449,000. American National Bank & Trust grew its stake in Ameriprise Financial by 570.3% in the 3rd quarter. American National Bank & Trust now owns 429 shares of the financial services provider's stock valued at $211,000 after buying an additional 365 shares during the last quarter. Finally, Weaver Consulting Group bought a new position in Ameriprise Financial in the 3rd quarter valued at about $220,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMP has been the subject of several research reports. Jefferies Financial Group raised their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Piper Sandler increased their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Weiss Ratings raised Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, September 3rd. Finally, BMO Capital Markets reduced their price target on Ameriprise Financial from $560.00 to $520.00 and set a "market perform" rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $559.80.

Ameriprise Financial Stock Performance

Ameriprise Financial stock traded down $6.85 during midday trading on Wednesday, hitting $489.76. The company's stock had a trading volume of 432,420 shares, compared to its average volume of 645,109. 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 company has a market cap of $44.03 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.89 and a beta of 1.16. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. The company has a 50-day moving average price of $542.29 and a two-hundred day moving average price of $494.64.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS 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 company had revenue of $4.90 billion for the quarter, compared to analysts' expectations of $4.87 billion. During the same period last year, the firm earned $9.11 earnings per share. The business's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 46.19 earnings per share for the current 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 paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial's dividend payout ratio (DPR) is 16.40%.

Ameriprise Financial declared that its Board of Directors has approved a stock repurchase plan on Tuesday, September 29th that permits the company to repurchase $5.50 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

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 value of $263,814.96. Following the transaction, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares of the company's stock, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,988 shares of company stock worth $16,316,497 in the last quarter. Insiders own 0.60% of the company's stock.

Ameriprise Financial Company Profile

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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