One Way Holdings LLC Makes New $14.02 Million Investment in Ameriprise Financial, Inc. $AMP

Key Points

• One Way Holdings acquired 28,472 Ameriprise Financial shares worth approximately $14.02 million in the third quarter. Institutional investors and hedge funds collectively own 83.95% of AMP.
• Ameriprise reported quarterly EPS of $11.26, below the $11.77 consensus estimate, while revenue rose 6.8% year over year to $5.08 billion. Analysts have a consensus “Hold” rating and an average price target of $557.
• The company declared a quarterly dividend of $1.70 per share and authorized a $5.5 billion stock-buyback program, allowing repurchases of up to 12.3% of outstanding shares.

One Way Holdings LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 28,472 shares of the financial services provider's stock, valued at approximately $14,018,000.

Other large investors also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Ameriprise Financial by 1,279.7% in the second quarter. State Street Corp now owns 63,365,362 shares of the financial services provider's stock worth $29,069,493,000 after buying an additional 58,772,775 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Ameriprise Financial by 960.8% in the second quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider's stock valued at $1,537,817,000 after buying an additional 3,036,128 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Ameriprise Financial by 980.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,069,740 shares of the financial services provider's stock valued at $1,019,036,000 after buying an additional 1,878,244 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $925,211,000. Finally, Douglas Lane & Associates LLC acquired a new position in Ameriprise Financial during the 3rd quarter worth approximately $575,767,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Up 0.1%

Shares of Ameriprise Financial stock opened at $491.18 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 1.13. The firm has a market cap of $44.16 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.05 and a beta of 1.13. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The business has a 50-day moving average price of $519.56 and a 200 day moving average price of $492.98.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, October 29th. The financial services provider reported $11.26 EPS for the quarter, missing the consensus estimate of $11.77 by ($0.51). Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the previous year, the business posted $9.92 EPS. Ameriprise Financial's revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 46.08 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 9th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial's payout ratio is 15.30%.

Ameriprise Financial announced that its Board of Directors has approved a stock buyback program on Tuesday, September 29th that permits the company to buy back $5.50 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Share buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

AMP has been the topic of several analyst reports. Weiss Ratings raised shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 3rd. Piper Sandler upped their price objective on shares of Ameriprise Financial from $518.00 to $561.00 in a research report on Thursday, July 23rd. BMO Capital Markets lowered their target price on Ameriprise Financial from $560.00 to $520.00 and set a "market perform" rating for the company in a research note on Tuesday, October 6th. The Goldman Sachs Group dropped their target price on Ameriprise Financial from $562.00 to $524.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Finally, Bank of America cut Ameriprise Financial from a "buy" rating to an "underperform" rating and cut their price target for the stock from $570.00 to $445.00 in a research note on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $557.00.

Insider Activity

In other Ameriprise Financial news, EVP Deirdre Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the sale, the executive vice president owned 3,373 shares of the company's stock, valued at $1,883,078.44. The trade was a 41.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the sale, the senior vice president directly owned 713 shares of the company's stock, valued at $398,517.09. The trade was a 39.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial Profile

Ameriprise Financial, Inc NYSE: AMP is a diversified financial services company that provides advice, wealth management, asset management, insurance and retirement solutions. Through its network of financial advisors and digital platforms, the company serves individuals, families, businesses and institutions with financial planning, investment management and related services.

Its products and services include brokerage and advisory accounts, mutual funds and exchange-traded funds, retirement plans, annuities, life and long-term care insurance, banking services and financial planning.

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