Vest Financial LLC Buys 13,405 Shares of Ameriprise Financial, Inc. $AMP

Vest Financial LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,065 shares of the financial services provider’s stock after purchasing an additional 13,405 shares during the quarter. Vest Financial LLC’s holdings in Ameriprise Financial were worth $53,698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Magnus Financial Group LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at $218,000. Axxcess Wealth Management LLC acquired a new stake in Ameriprise Financial in the third quarter worth about $351,000. Crossmark Global Holdings Inc. raised its holdings in Ameriprise Financial by 1.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,808 shares of the financial services provider’s stock worth $4,337,000 after purchasing an additional 98 shares during the last quarter. City State Bank raised its holdings in Ameriprise Financial by 264.7% during the 3rd quarter. City State Bank now owns 62 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 45 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Ameriprise Financial by 1.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 46,186 shares of the financial services provider’s stock worth $22,740,000 after purchasing an additional 685 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMP shares. Weiss Ratings upgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Zacks Research cut shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Morgan Stanley dropped their price target on shares of Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating for the company in a research note on Friday, October 9th. Royal Bank Of Canada boosted their price target on shares of Ameriprise Financial from $560.00 to $595.00 in a research note on Friday, July 24th. Finally, Evercore cut their price objective on shares of Ameriprise Financial from $625.00 to $623.00 in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $557.00.

Ameriprise Financial Stock Up 0.6%

NYSE:AMP opened at $490.62 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The stock’s fifty day simple moving average is $529.17 and its 200-day simple moving average is $498.79. The firm has a market capitalization of $44.11 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.05 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating 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 return on equity of 64.19% and a net margin of 20.24%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.11 earnings per share. Equities research analysts expect that Ameriprise Financial, Inc. will post 46.13 earnings per share for the current year.

Ameriprise Financial declared that its Board of Directors has initiated a share buyback plan on Tuesday, September 29th that permits the company to repurchase $5.50 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Walter Berman sold 11,012 shares of the company’s 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 completion of the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,079,060.55. This represents a 66.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Williams sold 8,210 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were 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 directly owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,988 shares of company stock worth $16,316,497 in the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial Company 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.