Leeward Investments LLC MA raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 31.3% during the 3rd quarter, Holdings Channel reports. The firm owned 18,444 shares of the financial services provider’s stock after buying an additional 4,399 shares during the quarter. Leeward Investments LLC MA’s holdings in Ameriprise Financial were worth $9,081,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. BG Investment Services LLC purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at approximately $803,000. Citizens Financial Group Inc. RI increased its holdings in Ameriprise Financial by 38.9% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,638 shares of the financial services provider’s stock worth $2,776,000 after acquiring an additional 1,580 shares in the last quarter. Simplicity Wealth LLC increased its holdings in Ameriprise Financial by 18.9% in the 3rd quarter. Simplicity Wealth LLC now owns 1,175 shares of the financial services provider’s stock worth $578,000 after acquiring an additional 187 shares in the last quarter. Gibbs Wealth Management raised its position in Ameriprise Financial by 25.2% during the third quarter. Gibbs Wealth Management now owns 1,237 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 249 shares during the period. Finally, Tectonic Advisors LLC raised its position in Ameriprise Financial by 1.6% during the third quarter. Tectonic Advisors LLC now owns 3,258 shares of the financial services provider’s stock worth $1,604,000 after acquiring an additional 51 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have issued reports on AMP. Zacks Research downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Jefferies Financial Group reduced their price target on shares of Ameriprise Financial from $645.00 to $638.00 in a research report on Monday, October 12th. The Goldman Sachs Group reduced their price target on shares of Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $518.00 to $561.00 in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $557.00.
Read Our Latest Stock Report on AMP
Ameriprise Financial Stock Performance
Shares of NYSE:AMP opened at $493.29 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The firm has a market capitalization of $44.35 billion, a PE ratio of 11.90, a P/E/G ratio of 1.06 and a beta of 1.16. The business’s 50 day moving average price is $526.14 and its 200-day moving average price is $499.67.
Ameriprise Financial (NYSE:AMP – Get Free Report) last posted 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. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%. The firm’s 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 research analysts expect that Ameriprise Financial, Inc. will post 46.13 earnings per share for the current fiscal year.
Ameriprise Financial announced that its board has approved a share buyback plan on Tuesday, September 29th that allows the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling at Ameriprise Financial
In other news, SVP Dawn Brockman sold 472 shares of the company’s stock in a transaction on Monday, August 10th. The shares were 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 owned 713 shares of the company’s stock, valued at $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deirdre Mcgraw sold 2,400 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the sale, the executive vice president owned 3,373 shares of the company’s stock, valued at $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 22,094 shares of company stock worth $12,076,788. Company insiders own 0.60% of the company’s stock.
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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