OLD National Bancorp IN Acquires 16,182 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• OLD National Bancorp IN increased its stake in Ameriprise Financial by 3,435.7% in the second quarter, acquiring an additional 16,182 shares to bring its total to 16,653 shares valued at approximately $8.89 million.
• Ameriprise Financial reported an earnings per share of $9.11 for the most recent quarter, exceeding analysts' expectations, with revenue at $4.49 billion, up 2.2% year-over-year.
• The company declared a quarterly dividend of $1.60, with an annualized yield of 1.3% and a dividend payout ratio of 19.91%.

OLD National Bancorp IN increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3,435.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,653 shares of the financial services provider's stock after buying an additional 16,182 shares during the period. OLD National Bancorp IN's holdings in Ameriprise Financial were worth $8,888,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AMP. Brighton Jones LLC boosted its holdings in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after buying an additional 50 shares during the period. Wellington Management Group LLP boosted its holdings in Ameriprise Financial by 19.1% in the 4th quarter. Wellington Management Group LLP now owns 1,627 shares of the financial services provider's stock worth $866,000 after buying an additional 261 shares during the period. Vest Financial LLC bought a new position in Ameriprise Financial in the 1st quarter worth approximately $28,142,000. Gateway Investment Advisers LLC boosted its holdings in Ameriprise Financial by 5.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 2,181 shares of the financial services provider's stock worth $1,056,000 after buying an additional 110 shares during the period. Finally, Sivia Capital Partners LLC bought a new position in Ameriprise Financial in the 1st quarter worth approximately $248,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $491.67 on Friday. The firm's fifty day moving average price is $502.93 and its 200-day moving average price is $502.12. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $46.35 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05.

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 for the quarter, beating the consensus estimate of $9.00 by $0.11. The firm had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $8.72 EPS. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a $1.60 dividend. 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 (DPR) is presently 19.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, 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 completion of the sale, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were 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 of the company's stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Ameriprise Financial in a research note on Saturday, September 27th. BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a research note on Friday. They issued a "market perform" rating and a $525.00 target price on the stock. Raymond James Financial increased their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. Morgan Stanley lowered their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating on the stock in a research note on Wednesday. Finally, Royal Bank Of Canada increased their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of "Hold" and an average target price of $535.14.

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.

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