Ameriprise Financial, Inc. $AMP Shares Newly Purchased by Applied Capital LLC FL

Key Points

• Applied Capital LLC FL acquired 30,302 Ameriprise Financial shares in the third quarter, valued at approximately $14.9 million and representing 5.7% of its portfolio. Institutional investors collectively own 83.95% of AMP.
• Ameriprise reported quarterly EPS of $11.07, exceeding estimates of $10.81, while revenue rose 11.6% year over year to $4.90 billion. The company also declared a $1.70 quarterly dividend and authorized a $5.5 billion share-repurchase program.
• AMP shares opened at $489.76, down 1.4%, with analysts maintaining a “Moderate Buy” consensus and an average price target of $559.80. Recent insider activity was negative, with executives selling nearly 30,000 shares worth $16.3 million.

Applied Capital LLC FL acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 30,302 shares of the financial services provider's stock, valued at approximately $14,919,000. Ameriprise Financial comprises about 5.7% of Applied Capital LLC FL's portfolio, making the stock its 2nd biggest position.

A number of other institutional investors have also recently bought and sold shares of AMP. Venture Visionary Partners LLC increased its stake in shares of Ameriprise Financial by 701.7% in the 3rd quarter. Venture Visionary Partners LLC now owns 123,789 shares of the financial services provider's stock valued at $60,948,000 after acquiring an additional 108,348 shares during the last quarter. Elevation Wealth Partners LLC increased its stake in Ameriprise Financial by 3,166.7% in the third quarter. Elevation Wealth Partners LLC now owns 784 shares of the financial services provider's stock valued at $386,000 after purchasing an additional 760 shares in the last quarter. Retirement Wealth Solutions LLC increased its stake in Ameriprise Financial by 7,300.0% in the third quarter. Retirement Wealth Solutions LLC now owns 74 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 73 shares in the last quarter. Canandaigua National Trust Co of Florida acquired a new stake in Ameriprise Financial in the third quarter worth $3,685,000. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in Ameriprise Financial in the third quarter worth $4,162,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Down 1.4%

NYSE:AMP opened at $489.76 on Thursday. The company has a market cap of $44.03 billion, a PE ratio of 11.81, a PEG ratio of 1.02 and a beta of 1.16. The stock has a 50-day simple moving average of $541.26 and a 200 day simple moving average of $495.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56.

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

Ameriprise Financial Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.4%. Ameriprise Financial's dividend payout ratio is presently 16.40%.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AMP shares. Zacks Research lowered shares of Ameriprise Financial from a "strong-buy" rating to a "hold" rating in a report on Monday, September 21st. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a research note on Friday, July 24th. BMO Capital Markets reduced their target price on Ameriprise Financial from $560.00 to $520.00 and set a "market perform" rating on the stock in a report on Tuesday. Morgan Stanley boosted their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research report on Friday, July 10th. Finally, Bank of America reissued a "buy" rating and set a $570.00 target price on shares of Ameriprise Financial in a research note on Monday. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of "Moderate Buy" and a consensus target price of $559.80.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, 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 transaction of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares of the company's stock, valued at $1,883,078.44. The trade was a 41.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Walter Berman sold 11,012 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer owned 5,609 shares of the company's stock, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 in the last three months. 0.60% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.