Trifecta Capital Advisors LLC Acquires 1,163 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Trifecta Capital Advisors LLC increased its holdings in Ameriprise Financial, acquiring an additional 1,163 shares and raising its stake by 1,107.6% to a total of 1,268 shares valued at $677,000.
• CEO William F. Truscott sold 9,929 shares at an average price of $506.89, resulting in a 47.34% decrease in his ownership, while EVP Heather J. Melloh also sold 1,500 shares representing a 36.93% decrease.
• Ameriprise Financial recently announced a quarterly dividend of $1.60 per share, translating to an annualized yield of 1.3% with a payout ratio of 19.91%.

Trifecta Capital Advisors LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1,107.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,268 shares of the financial services provider's stock after buying an additional 1,163 shares during the period. Trifecta Capital Advisors LLC's holdings in Ameriprise Financial were worth $677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMP. Wealth Preservation Advisors LLC purchased a new stake in Ameriprise Financial during the first quarter valued at approximately $29,000. TD Capital Management LLC increased its holdings in Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock valued at $29,000 after buying an additional 51 shares during the last quarter. WPG Advisers LLC purchased a new stake in Ameriprise Financial during the first quarter valued at approximately $33,000. Opal Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the first quarter valued at approximately $36,000. Finally, TCTC Holdings LLC increased its holdings in Ameriprise Financial by 100.0% during the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock valued at $47,000 after buying an additional 49 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on 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 completion of the transaction, 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. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on 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 owned 2,562 shares of the company's stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $490.09 on Thursday. 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 firm has a fifty day moving average price of $501.37 and a 200 day moving average price of $502.07. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The firm has a market cap of $46.20 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 1.12 and a beta of 1.26.

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

Ameriprise Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Piper Sandler upped their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Raymond James Financial upped their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They issued a "market perform" rating and a $525.00 price target for the company. Finally, William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. One 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 given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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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