Ameriprise Financial, Inc. $AMP Shares Bought by Integrated Advisors Network LLC

Integrated Advisors Network LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 360.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,805 shares of the financial services provider’s stock after buying an additional 4,545 shares during the quarter. Integrated Advisors Network LLC’s holdings in Ameriprise Financial were worth $2,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Avail Investment Partners LLC lifted its holdings in Ameriprise Financial by 2.6% in the third quarter. Avail Investment Partners LLC now owns 800 shares of the financial services provider’s stock valued at $394,000 after buying an additional 20 shares during the period. Novem Group boosted its stake in Ameriprise Financial by 0.9% in the third quarter. Novem Group now owns 2,303 shares of the financial services provider’s stock valued at $1,134,000 after acquiring an additional 21 shares during the last quarter. Rexford Capital Inc. grew its holdings in Ameriprise Financial by 19.5% during the 1st quarter. Rexford Capital Inc. now owns 147 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 24 shares during the period. North Dakota State Investment Board grew its holdings in Ameriprise Financial by 0.9% during the 2nd quarter. North Dakota State Investment Board now owns 2,716 shares of the financial services provider’s stock worth $1,246,000 after acquiring an additional 24 shares during the period. Finally, HBK Sorce Advisory LLC grew its holdings in Ameriprise Financial by 2.8% during the 2nd quarter. HBK Sorce Advisory LLC now owns 892 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 24 shares during the period. 83.95% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Deirdre Mcgraw sold 2,400 shares of the firm’s 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 approximately $1,883,078.44. This trade represents a 41.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William Williams sold 8,210 shares of Ameriprise Financial stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the transaction, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This represents a 54.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,988 shares of company stock worth $16,316,497 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Up 0.6%

Shares of NYSE:AMP opened at $490.62 on Thursday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $44.11 billion, a PE ratio of 11.83, a PEG ratio of 1.05 and a beta of 1.16. The company has a 50 day moving average price of $529.17 and a two-hundred day moving average price of $498.79.

Ameriprise Financial (NYSE:AMP – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period last year, the firm posted $9.11 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Ameriprise Financial, Inc. will post 46.13 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several analysts have commented on AMP shares. Morgan Stanley dropped their target price on shares of Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating for the company in a research report on Friday, October 9th. Piper Sandler upped their price objective on Ameriprise Financial from $518.00 to $561.00 in a report on Thursday, July 23rd. Raymond James Financial increased their target price on Ameriprise Financial from $582.00 to $638.00 and gave the company a “strong-buy” rating in a research note on Friday, August 21st. Argus raised their target price on Ameriprise Financial from $534.00 to $590.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Jefferies Financial Group decreased their target price on Ameriprise Financial from $645.00 to $638.00 in a research report on Monday, October 12th. One equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $557.00.

View Our Latest Analysis on Ameriprise Financial

Ameriprise Financial Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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