EntryPoint Capital LLC Makes New $567,000 Investment in Ameriprise Financial, Inc. $AMP

Key Points

• EntryPoint Capital LLC purchased a new stake in Ameriprise Financial, acquiring 1,172 shares valued at approximately $567,000 during the first quarter.
• Analyst ratings for Ameriprise Financial have varied, with reports indicating a consensus rating of "Hold" and a price target averaging $534.71.
• Ameriprise Financial recently announced a quarterly dividend of $1.60, representing a 1.3% yield, with a payout ratio of 19.91%.

EntryPoint Capital LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,172 shares of the financial services provider's stock, valued at approximately $567,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $26,000. Sunbeam Capital Management LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $31,000. Opal Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the 1st quarter valued at about $36,000. Quarry LP lifted its stake in Ameriprise Financial by 148.6% in the 4th quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after purchasing an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC boosted its holdings in shares of Ameriprise Financial by 100.0% during the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Trading Up 2.1%

AMP stock traded up $10.6240 during mid-day trading on Friday, hitting $515.8540. 441,906 shares of the company were exchanged, compared to its average volume of 411,409. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The firm has a market capitalization of $48.63 billion, a P/E ratio of 16.05, a PEG ratio of 1.10 and a beta of 1.24. The business has a fifty day simple moving average of $521.12 and a 200-day simple moving average of $506.04. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the business posted $8.72 EPS. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.2%. Ameriprise Financial's dividend payout ratio is presently 19.91%.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.73% of the company's stock.

Wall Street Analysts Forecast Growth

AMP has been the subject of several recent research reports. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Morgan Stanley lowered Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their price target for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Raymond James Financial upped their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Piper Sandler lifted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $534.71.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.