CYBER HORNET ETFs LLC Purchases 4,973 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• CYBER HORNET ETFs LLC increased its Ameriprise Financial stake by 1,942.6% in the second quarter, acquiring 4,973 shares and bringing its total holdings to 5,229 shares valued at approximately $2.4 million. Institutional investors collectively own 83.95% of AMP.
• Ameriprise reported strong quarterly results, with EPS of $11.07 exceeding estimates and revenue rising 11.6% year over year to $4.90 billion. The company also paid a quarterly dividend of $1.70 per share, equal to a 1.2% yield.
• AMP shares opened at $559.88, near their 12-month high of $572.56, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $555.33. Recent insider activity was negative, with insiders selling nearly 30,000 shares worth $16.3 million in the last quarter.

CYBER HORNET ETFs LLC grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1,942.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,229 shares of the financial services provider's stock after buying an additional 4,973 shares during the quarter. Ameriprise Financial accounts for 0.8% of CYBER HORNET ETFs LLC's portfolio, making the stock its 18th largest position. CYBER HORNET ETFs LLC's holdings in Ameriprise Financial were worth $2,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SouthState Bank Corp boosted its position in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock valued at $25,000 after buying an additional 22 shares during the last quarter. Twin Lakes Capital Management LLC purchased a new stake in shares of Ameriprise Financial during the 2nd quarter valued at about $25,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the first quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. bought a new position in Ameriprise Financial during the second quarter valued at approximately $28,000. Finally, Fiduciary Financial Advisors purchased a new stake in Ameriprise Financial in the second quarter worth approximately $30,000. 83.95% of the stock is owned by institutional investors.

Insider Activity

In related news, insider William Williams sold 8,210 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the transaction, the insider owned 6,780 shares of the company's stock, valued at approximately $3,656,793. This represents a 54.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Dawn Brockman sold 472 shares of the 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 completion of the sale, the senior vice president owned 713 shares of the company's stock, valued at $398,517.09. The trade was a 39.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,988 shares of company stock worth $16,316,497 in the last quarter. Corporate insiders own 0.60% of the company's stock.

Ameriprise Financial Stock Down 0.1%

AMP stock opened at $559.88 on Monday. The business's 50-day moving average price is $536.22 and its 200-day moving average price is $484.99. The stock has a market cap of $50.33 billion, a P/E ratio of 13.50, a PEG ratio of 1.00 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. 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 released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the business earned $9.11 EPS. The firm's revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial's dividend payout ratio (DPR) is presently 16.40%.

Analyst Ratings Changes

A number of brokerages have weighed in on AMP. Weiss Ratings upgraded shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. Zacks Research raised Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Morgan Stanley upped 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. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Finally, Piper Sandler boosted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial has a consensus rating of "Moderate Buy" and a consensus target price of $555.33.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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