Intergy Private Wealth LLC Makes New $2.29 Million Investment in Ameriprise Financial, Inc. $AMP

Key Points

• Intergy Private Wealth initiated a $2.29 million position in Ameriprise Financial during the third quarter, purchasing 4,651 shares. Institutional investors collectively own 83.95% of the company.
• Ameriprise reported quarterly EPS of $11.07, exceeding estimates, while revenue rose 11.6% year over year to $4.90 billion. The company also authorized a $5.50 billion stock-repurchase program and pays a $1.70 quarterly dividend.
• AMP traded near $500.91, below the analyst consensus price target of $572.55. Analysts maintain a “Moderate Buy” consensus, although insiders sold nearly $16.3 million of shares during the quarter.

Intergy Private Wealth LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,651 shares of the financial services provider's stock, valued at approximately $2,290,000.

Other institutional investors have also added to or reduced their stakes in the company. Avail Investment Partners LLC lifted its position in shares of Ameriprise Financial by 2.6% in the third quarter. Avail Investment Partners LLC now owns 800 shares of the financial services provider's stock worth $394,000 after purchasing an additional 20 shares in the last quarter. RKL Wealth Management LLC bought a new stake in Ameriprise Financial during the third quarter worth $7,663,000. Hengehold Capital Management LLC raised its position in Ameriprise Financial by 742.6% during the third quarter. Hengehold Capital Management LLC now owns 7,280 shares of the financial services provider's stock worth $3,584,000 after acquiring an additional 6,416 shares in the last quarter. Eagle Strategies LLC acquired a new stake in Ameriprise Financial in the third quarter valued at $3,995,000. Finally, McKinley Carter Wealth Services Inc. acquired a new stake in Ameriprise Financial in the third quarter valued at $4,123,000. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. 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 transaction of $263,814.96. Following the transaction, the senior vice president owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Walter Berman sold 11,012 shares of Ameriprise Financial stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the sale, the chief financial officer directly owned 5,609 shares of the company's stock, valued at $3,079,060.55. This represents a 66.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company's stock.

Ameriprise Financial Stock Performance

AMP stock traded down $1.67 during mid-day trading on Friday, hitting $500.91. 581,724 shares of the company were exchanged, compared to its average volume of 647,053. The business has a 50 day simple moving average of $533.72 and a 200-day simple moving average of $497.36. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $45.03 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.03 and a beta of 1.16. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. The company had revenue of $4.90 billion for 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 firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.11 earnings per share. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current year.

Ameriprise Financial announced that its Board of Directors has authorized a stock repurchase program on Tuesday, September 29th that allows the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMP. Royal Bank Of Canada boosted their price objective on shares of Ameriprise Financial from $560.00 to $595.00 in a research note on Friday, July 24th. Piper Sandler lifted their price target on Ameriprise Financial from $518.00 to $561.00 in a report on Thursday, July 23rd. Argus lifted their price target on Ameriprise Financial from $534.00 to $590.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Finally, Weiss Ratings raised shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $572.55.

Ameriprise Financial 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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