Toth Financial Advisory Corp raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 53,665.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,818 shares of the financial services provider’s stock after purchasing an additional 18,783 shares during the period. Toth Financial Advisory Corp’s holdings in Ameriprise Financial were worth $9,265,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of AMP. Applied Capital LLC FL purchased a new stake in Ameriprise Financial during the third quarter valued at about $14,919,000. Venture Visionary Partners LLC increased its stake in shares of Ameriprise Financial by 701.7% in the third quarter. Venture Visionary Partners LLC now owns 123,789 shares of the financial services provider’s stock worth $60,948,000 after purchasing an additional 108,348 shares in the last quarter. Elevation Wealth Partners LLC raised its position in shares of Ameriprise Financial by 3,166.7% in the third quarter. Elevation Wealth Partners LLC now owns 784 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 760 shares during the period. Retirement Wealth Solutions LLC lifted its stake in shares of Ameriprise Financial by 7,300.0% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 74 shares of the financial services provider’s stock valued at $36,000 after buying an additional 73 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida bought a new position in Ameriprise Financial in the 3rd quarter worth approximately $3,685,000. 83.95% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Morgan Stanley lifted their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. Piper Sandler boosted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Jefferies Financial Group increased their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Weiss Ratings upgraded Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $559.80.
Ameriprise Financial Price Performance
Shares of AMP stock traded up $5.30 on Thursday, reaching $495.86. The company’s stock had a trading volume of 156,813 shares, compared to its average volume of 642,498. The company has a market capitalization of $44.58 billion, a P/E ratio of 11.98, a PEG ratio of 1.02 and a beta of 1.16. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The stock’s 50 day simple moving average is $541.26 and its 200-day simple moving average is $495.04. 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 (NYSE:AMP – Get Free Report) last announced its 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. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $9.11 EPS. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current fiscal year.
Ameriprise Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is 16.40%.
Ameriprise Financial declared that its Board of Directors has initiated a stock repurchase program on Tuesday, September 29th that authorizes the company to repurchase $5.50 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
Insider Activity at Ameriprise Financial
In related news, CFO Walter Berman sold 11,012 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William Williams sold 8,210 shares of Ameriprise Financial stock in a transaction that occurred on 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 sale, the insider owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,988 shares of company stock valued at $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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