Venture Visionary Partners LLC Raises Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Venture Visionary Partners increased its Ameriprise Financial stake by 701.7% in the third quarter, acquiring 108,348 additional shares and bringing its holdings to 123,789 shares valued at approximately $60.9 million.
• Analysts maintain a generally positive view, with Ameriprise carrying a consensus “Moderate Buy” rating and an average price target of $559.80, despite mixed target-price revisions.
• Ameriprise authorized a $5.5 billion share-repurchase program, while reporting quarterly earnings and revenue above estimates; its shares later traded down 1.4% at $489.76.

Venture Visionary Partners LLC grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 701.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,789 shares of the financial services provider's stock after acquiring an additional 108,348 shares during the period. Ameriprise Financial accounts for approximately 1.5% of Venture Visionary Partners LLC's investment portfolio, making the stock its 15th biggest holding. Venture Visionary Partners LLC owned approximately 0.14% of Ameriprise Financial worth $60,948,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. EP Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at about $1,704,000. Neville Rodie & Shaw Inc. increased its holdings in Ameriprise Financial by 4,524.8% in the third quarter. Neville Rodie & Shaw Inc. now owns 32,651 shares of the financial services provider's stock worth $16,076,000 after purchasing an additional 31,945 shares in the last quarter. Ballew Advisors Inc bought a new stake in Ameriprise Financial in the third quarter worth approximately $4,112,000. Iowa State Bank acquired a new position in Ameriprise Financial in the third quarter valued at approximately $31,154,000. Finally, KBC Group NV lifted its stake in Ameriprise Financial by 43.7% in the second quarter. KBC Group NV now owns 215,126 shares of the financial services provider's stock valued at $98,691,000 after buying an additional 65,400 shares during the period. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on AMP shares. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 3rd. BMO Capital Markets cut their target price on shares of Ameriprise Financial from $560.00 to $520.00 and set a "market perform" rating on the stock in a research note on Tuesday. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $559.80.

Ameriprise Financial Stock Down 1.4%

NYSE:AMP traded down $6.85 on Wednesday, hitting $489.76. The stock had a trading volume of 432,420 shares, compared to its average volume of 645,109. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The business's fifty day moving average is $541.26 and its 200 day moving average is $495.04. The company has a market cap of $44.03 billion, a PE ratio of 11.81, a P/E/G ratio of 0.89 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the company posted $9.11 earnings per share. The company's quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 46.19 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were given a $1.70 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.4%. Ameriprise Financial's dividend payout ratio (DPR) is presently 16.40%.

Ameriprise Financial declared that its board has initiated a share repurchase plan on Tuesday, September 29th that authorizes the company to buyback $5.50 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Berman sold 11,012 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares of the company's stock, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Williams sold 8,210 shares of Ameriprise Financial stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider owned 6,780 shares of the company's stock, valued at $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 29,988 shares of company stock worth $16,316,497. Company insiders own 0.60% of the company's stock.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.

Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.

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