Geneva Partners LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,599 shares of the financial services provider’s stock, valued at approximately $1,280,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in Ameriprise Financial by 1,279.7% during the 2nd quarter. State Street Corp now owns 63,365,362 shares of the financial services provider’s stock worth $29,069,493,000 after buying an additional 58,772,775 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Ameriprise Financial by 960.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider’s stock worth $1,537,817,000 after purchasing an additional 3,036,128 shares during the period. Artemis Investment Management LLP purchased a new position in Ameriprise Financial during the 3rd quarter worth $925,211,000. Assenagon Asset Management S.A. increased its stake in Ameriprise Financial by 980.8% in the third quarter. Assenagon Asset Management S.A. now owns 2,069,740 shares of the financial services provider’s stock valued at $1,019,036,000 after purchasing an additional 1,878,244 shares during the period. Finally, Douglas Lane & Associates LLC acquired a new position in Ameriprise Financial in the third quarter valued at $575,767,000. 83.95% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have weighed in on the company. Piper Sandler lifted their target price on Ameriprise Financial from $518.00 to $561.00 in a research note on Thursday, July 23rd. BMO Capital Markets dropped their price objective 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, October 6th. Raymond James Financial upped their price objective on shares of Ameriprise Financial from $582.00 to $638.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 21st. Weiss Ratings upgraded Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Finally, Morgan Stanley reduced their target price on Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating for the company in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $557.00.
View Our Latest Analysis on Ameriprise Financial
Ameriprise Financial Price Performance
Shares of NYSE:AMP opened at $492.80 on Tuesday. 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 business’s fifty day moving average price is $526.34 and its two-hundred day moving average price is $493.31. The stock has a market cap of $44.30 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56.
Ameriprise Financial announced that its board has approved a stock buyback program on Tuesday, September 29th that permits the company to repurchase $5.50 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Share repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling at Ameriprise Financial
In other news, EVP Deirdre Mcgraw sold 2,400 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Dawn Brockman sold 472 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president directly owned 713 shares of the company’s stock, valued at $398,517.09. The trade was a 39.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by corporate insiders.
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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