Knights of Columbus Asset Advisors LLC Raises Position in Ameriprise Financial, Inc. $AMP

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in Ameriprise Financial by 4.2%, bringing its total holdings to 16,735 shares valued at approximately $8.93 million.
• CEO William F. Truscott sold nearly 10,000 shares of Ameriprise Financial at an average price of $506.89, reducing his ownership by 47.34%.
• Ameriprise Financial announced a quarterly dividend of $1.60 per share, translating to an annual yield of 1.3%.

Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,735 shares of the financial services provider's stock after buying an additional 667 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Ameriprise Financial were worth $8,932,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMP. Grimes & Company Inc. raised its holdings in shares of Ameriprise Financial by 3.9% in the 2nd quarter. Grimes & Company Inc. now owns 1,528 shares of the financial services provider's stock valued at $816,000 after acquiring an additional 58 shares in the last quarter. Simplicity Wealth LLC increased its position in shares of Ameriprise Financial by 109.3% in the second quarter. Simplicity Wealth LLC now owns 2,043 shares of the financial services provider's stock worth $1,090,000 after purchasing an additional 1,067 shares during the last quarter. OLD National Bancorp IN raised its stake in Ameriprise Financial by 3,435.7% in the second quarter. OLD National Bancorp IN now owns 16,653 shares of the financial services provider's stock valued at $8,888,000 after purchasing an additional 16,182 shares in the last quarter. Accel Wealth Management lifted its position in Ameriprise Financial by 1.8% during the second quarter. Accel Wealth Management now owns 1,449 shares of the financial services provider's stock valued at $773,000 after purchasing an additional 26 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. lifted its position in Ameriprise Financial by 2.7% during the second quarter. Penobscot Investment Management Company Inc. now owns 4,348 shares of the financial services provider's stock valued at $2,321,000 after purchasing an additional 116 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares of the company's stock, 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 Securities & Exchange Commission, which is available at the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company's stock.

Ameriprise Financial Trading Up 0.2%

NYSE AMP opened at $491.67 on Monday. The firm has a market cap of $46.35 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The stock has a 50-day moving average of $502.93 and a 200-day moving average of $502.19. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. During the same period in the previous year, the firm earned $8.72 EPS. The business's quarterly revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's dividend payout ratio is currently 19.91%.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Ameriprise Financial in a report on Saturday, September 27th. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada lifted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Piper Sandler increased their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Finally, Morgan Stanley decreased their price objective on Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating on the stock in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and an average target price of $535.14.

Ameriprise Financial 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.

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