Venture Visionary Partners LLC Boosts Stock Position in Ameriprise Financial, Inc. $AMP

Venture Visionary Partners LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 701.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,789 shares of the financial services provider’s stock after buying an additional 108,348 shares during the period. Ameriprise Financial comprises about 1.5% of Venture Visionary Partners LLC’s holdings, making the stock its 15th largest position. Venture Visionary Partners LLC’s holdings in Ameriprise Financial were worth $60,948,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. EP Wealth Advisors LLC purchased a new position in Ameriprise Financial during the 2nd quarter worth $1,704,000. Neville Rodie & Shaw Inc. grew its stake in shares of Ameriprise Financial by 4,524.8% in the 3rd quarter. Neville Rodie & Shaw Inc. now owns 32,651 shares of the financial services provider’s stock worth $16,076,000 after acquiring an additional 31,945 shares in the last quarter. Ballew Advisors Inc purchased a new stake in shares of Ameriprise Financial in the third quarter valued at about $4,112,000. Iowa State Bank purchased a new stake in shares of Ameriprise Financial in the third quarter valued at about $31,154,000. Finally, KBC Group NV lifted its position in shares of Ameriprise Financial by 43.7% during the second quarter. KBC Group NV now owns 215,126 shares of the financial services provider’s stock valued at $98,691,000 after purchasing an additional 65,400 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMP. BMO Capital Markets cut their price target on shares of Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating on the stock in a report on Tuesday. Zacks Research cut shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Piper Sandler boosted their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Morgan Stanley upped their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Finally, Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Moderate Buy” and an average price target of $559.80.

Insider Buying and Selling at Ameriprise Financial

In related news, insider William Williams sold 8,210 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the sale, the insider directly owned 6,780 shares in the company, valued at approximately $3,656,793. The trade was a 54.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Walter Berman sold 11,012 shares of the stock in a transaction dated Tuesday, July 28th. The stock was 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 in the company, valued at $3,079,060.55. This trade represents a 66.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,988 shares of company stock valued at $16,316,497 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

AMP stock traded down $6.85 during mid-day trading on Wednesday, hitting $489.76. The company had a trading volume of 432,420 shares, compared to its average volume of 645,109. 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 firm has a market cap of $44.03 billion, a PE ratio of 11.81, a price-to-earnings-growth 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 stock’s fifty day moving average price is $541.26 and its two-hundred day moving average price is $495.04.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating 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 firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the firm earned $9.11 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. On average, analysts forecast that Ameriprise Financial, Inc. will post 46.19 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were issued a $1.70 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Ameriprise Financial declared that its board has authorized a stock repurchase program on Tuesday, September 29th that permits the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.