16,523 Ameriprise Financial, Inc. $AMP Shares Bought by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1,021.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,141 shares of the financial services provider’s stock after purchasing an additional 16,523 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Ameriprise Financial were worth $8,932,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AMP. State Street Corp raised its position in shares of 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 purchasing an additional 58,772,775 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Ameriprise Financial by 960.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider’s stock valued at $1,537,817,000 after buying an additional 3,036,128 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Ameriprise Financial by 980.8% during the 3rd 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 buying an additional 1,878,244 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in Ameriprise Financial during the 3rd quarter valued at $925,211,000. Finally, Douglas Lane & Associates LLC acquired a new stake in Ameriprise Financial during the 3rd quarter valued at $575,767,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMP has been the subject of several recent research reports. Morgan Stanley dropped their price target on Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating for the company in a research report on Friday, October 9th. Bank of America restated a “buy” rating and issued a $570.00 price objective (down from $616.00) on shares of Ameriprise Financial in a research report on Monday, October 5th. Zacks Research lowered Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Royal Bank Of Canada increased their price objective on Ameriprise Financial from $560.00 to $595.00 in a research note on Friday, July 24th. Finally, Raymond James Financial lifted their price objective on Ameriprise Financial from $582.00 to $638.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and an average price target of $572.55.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $500.91 on Friday. The firm has a market capitalization of $45.03 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 1.03 and a beta of 1.16. 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 company has a 50 day moving average price of $533.72 and a 200 day moving average price of $497.36. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56.

Ameriprise Financial (NYSE:AMP) last issued 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. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $9.11 earnings per share. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.14 EPS for the current year.

Ameriprise Financial Announces Dividend

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

Ameriprise Financial declared that its Board of Directors has authorized a stock buyback program on Tuesday, September 29th that authorizes the company to repurchase $5.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Share buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, CFO Walter Berman sold 11,012 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deirdre Mcgraw sold 2,400 shares of the company’s 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 transaction, the executive vice president directly owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 29,988 shares of company stock worth $16,316,497. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Company 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.