Level Four Advisory Services LLC Cuts Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Level Four Advisory Services LLC has reduced its holdings in Ameriprise Financial (NYSE:AMP) by 10.6%, selling 1,359 shares and now owning 11,485 shares valued at approximately $5.56 million.
• Ameriprise Financial recently reported a quarterly EPS of $9.11, surpassing analysts' expectations and showing revenue growth of 2.2% year-over-year, amounting to $4.49 billion.
• The company has announced a $4.5 billion share buyback plan, indicating confidence from its leadership that the stock is undervalued; this plan allows the repurchase of up to 9.9% of its shares.

Level Four Advisory Services LLC lowered its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,485 shares of the financial services provider's stock after selling 1,359 shares during the period. Level Four Advisory Services LLC's holdings in Ameriprise Financial were worth $5,560,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $31,000. Opal Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $36,000. Quarry LP grew its holdings in shares of 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 acquiring an additional 52 shares during the period. Finally, TCTC Holdings LLC grew its holdings in shares of Ameriprise Financial by 100.0% in the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Activity

In other news, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction on 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 sale, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Trading Up 2.1%

Shares of AMP stock traded up $10.6240 during mid-day trading on Friday, hitting $515.8540. 441,906 shares of the company's stock were exchanged, compared to its average volume of 411,409. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The stock has a 50-day simple moving average of $521.12 and a two-hundred 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. The stock has a market cap of $48.63 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.10 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the firm earned $8.72 earnings per share. The business's revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial's dividend payout ratio (DPR) is 19.91%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler upped their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Raymond James Financial increased their target price on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $534.71.

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.