Aull & Monroe Investment Management Corp Acquires New Position in Ameriprise Financial, Inc. $AMP

Key Points

• Aull & Monroe Investment Management initiated a 15,477-share position in Ameriprise Financial worth approximately $7.62 million, making AMP its ninth-largest holding. Institutional investors collectively own 83.95% of the company.
• 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 authorized a $5.5 billion share buyback, equal to up to 12.3% of its outstanding shares.
• AMP shares opened at $500.91, below the analyst consensus target of $572.55; the stock has a “Moderate Buy” consensus rating. Ameriprise pays a $1.70 quarterly dividend, equivalent to a 1.4% annual yield.

Aull & Monroe Investment Management Corp bought a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,477 shares of the financial services provider's stock, valued at approximately $7,620,000. Ameriprise Financial comprises 2.8% of Aull & Monroe Investment Management Corp's portfolio, making the stock its 9th biggest holding.

Several other hedge funds also recently modified their holdings of AMP. State Street Corp boosted its stake in shares of 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 valued at $29,069,493,000 after purchasing an additional 58,772,775 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Ameriprise Financial by 960.8% during the second quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider's stock worth $1,537,817,000 after buying an additional 3,036,128 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Ameriprise Financial by 980.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,069,740 shares of the financial services provider's stock valued at $1,019,036,000 after purchasing an additional 1,878,244 shares during the period. Artemis Investment Management LLP acquired a new position in Ameriprise Financial in the third quarter valued at approximately $925,211,000. Finally, Douglas Lane & Associates LLC acquired a new stake in Ameriprise Financial in the third quarter worth $575,767,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Trading Down 0.3%

Shares of Ameriprise Financial stock opened at $500.91 on Friday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. 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 firm has a market cap of $45.03 billion, a PE ratio of 12.08, a PEG ratio of 1.03 and a beta of 1.16. The company has a 50 day simple moving average of $533.72 and a two-hundred day simple moving average of $497.36.

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 (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 during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the business earned $9.11 earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. Analysts expect that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current fiscal year.

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

Ameriprise Financial Announces Dividend

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

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Deirdre Mcgraw sold 2,400 shares of the firm's stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Walter Berman sold 11,012 shares of the firm's stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 29,988 shares of company stock valued at $16,316,497. Corporate insiders own 0.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AMP shares. The Goldman Sachs Group lowered their target price on Ameriprise Financial from $562.00 to $524.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Weiss Ratings raised Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 3rd. Evercore decreased their price objective on shares of Ameriprise Financial from $625.00 to $623.00 in a report on Friday, July 24th. Royal Bank Of Canada increased their price target on Ameriprise Financial from $560.00 to $595.00 in a research note on Friday, July 24th. Finally, Keefe, Bruyette & Woods lifted their price objective 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. One investment 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $572.55.

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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