Ameriprise Financial, Inc. $AMP Stock: Leeward Investments LLC MA Boosts Holdings

Key Points

• Leeward Investments increased its Ameriprise Financial stake by 31.3% in the third quarter, while institutional investors collectively own 83.95% of AMP shares.
• Ameriprise reported quarterly EPS of $11.07, exceeding estimates, with revenue of $4.90 billion—up 11.6% year over year. The company also authorized a $5.5 billion share-repurchase program.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and a $557 price target. Meanwhile, insiders sold 22,094 shares worth approximately $12.1 million during the latest quarter.

Leeward Investments LLC MA lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 31.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,444 shares of the financial services provider's stock after purchasing an additional 4,399 shares during the quarter. Leeward Investments LLC MA's holdings in Ameriprise Financial were worth $9,081,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Twin Lakes Capital Management LLC purchased a new stake in Ameriprise Financial in the second quarter valued at approximately $25,000. Cassaday & Co Wealth Management LLC acquired a new position in Ameriprise Financial in the 1st quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial during the 2nd quarter worth approximately $28,000. Fiduciary Financial Advisors purchased a new position in Ameriprise Financial during the 2nd quarter worth approximately $30,000. Finally, City State Bank raised its position in Ameriprise Financial by 264.7% during the 3rd quarter. City State Bank now owns 62 shares of the financial services provider's stock worth $31,000 after buying an additional 45 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 0.2%

Shares of NYSE:AMP opened at $493.29 on Monday. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The company has a market capitalization of $44.35 billion, a PE ratio of 11.90, a PEG ratio of 1.06 and a beta of 1.16. The business has a 50 day moving average of $526.14 and a two-hundred day moving average of $499.67. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.11 EPS. As a group, analysts forecast that Ameriprise Financial, Inc. will post 46.13 EPS for the current year.

Ameriprise Financial declared that its Board of Directors has authorized a share repurchase program on Tuesday, September 29th that permits the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Insider Activity

In related news, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the sale, 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. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William Williams sold 8,210 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the sale, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This represents a 54.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,094 shares of company stock valued at $12,076,788 in the last quarter. Company insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AMP shares. BMO Capital Markets dropped their price objective on shares of Ameriprise Financial from $560.00 to $520.00 and set a "market perform" rating on the stock in a report on Tuesday, October 6th. Raymond James Financial raised their target price on shares of Ameriprise Financial from $582.00 to $638.00 and gave the stock a "strong-buy" rating in a report on Friday, August 21st. Bank of America restated an "underperform" rating and set a $445.00 target price (down from $570.00) on shares of Ameriprise Financial in a research report on Monday, October 19th. Keefe, Bruyette & Woods upped 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. Finally, Jefferies Financial Group cut their price target on Ameriprise Financial from $645.00 to $638.00 in a research report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $557.00.

About Ameriprise Financial

Ameriprise Financial, Inc NYSE: AMP is a diversified financial services company that provides advice, wealth management, asset management, insurance and retirement solutions. Through its network of financial advisors and digital platforms, the company serves individuals, families, businesses and institutions with financial planning, investment management and related services.

Its products and services include brokerage and advisory accounts, mutual funds and exchange-traded funds, retirement plans, annuities, life and long-term care insurance, banking services and financial planning.

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