Ameriprise Financial, Inc. $AMP Shares Acquired by Investors Research Corp

Investors Research Corp boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 124,723.3% in the 3rd quarter, Holdings Channel reports. The firm owned 37,447 shares of the financial services provider’s stock after buying an additional 37,417 shares during the period. Ameriprise Financial accounts for about 3.1% of Investors Research Corp’s holdings, making the stock its 7th largest position. Investors Research Corp’s holdings in Ameriprise Financial were worth $18,437,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AMP. SouthState Bank Corp increased its stake in shares of Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares during the last quarter. Twin Lakes Capital Management LLC bought a new stake in shares of Ameriprise Financial during the 2nd quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial during the 2nd quarter worth $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in Ameriprise Financial in the first quarter valued at about $28,000. Finally, Fiduciary Financial Advisors acquired a new stake in Ameriprise Financial in the second quarter valued at about $30,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America reissued a “buy” rating and set a $570.00 target price on shares of Ameriprise Financial in a research note on Monday. Zacks Research downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods upped 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. Finally, Piper Sandler increased their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Moderate Buy” and an average target price of $559.80.

Ameriprise Financial Trading Down 1.4%

Ameriprise Financial stock traded down $6.85 during mid-day trading on Wednesday, hitting $489.76. 432,420 shares of the stock were exchanged, compared to its average volume of 645,109. The stock has a market capitalization of $44.03 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.89 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 company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The firm’s fifty day simple moving average is $542.29 and its two-hundred day simple moving average is $494.64.

Ameriprise Financial (NYSE:AMP) 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 during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. Ameriprise Financial’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $9.11 earnings per share. Analysts forecast that Ameriprise Financial, Inc. will post 46.19 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders 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 dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

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

Insiders Place Their Bets

In related news, EVP Deirdre Mcgraw sold 2,400 shares of the firm’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of 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. Insiders sold 29,988 shares of company stock valued at $16,316,497 over the last 90 days. 0.60% of the stock is owned by company insiders.

Ameriprise Financial Profile

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.