20,326 Ameriprise Financial, Inc. $AMP Shares Bought by CX Institutional

CX Institutional increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 192.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,866 shares of the financial services provider’s stock after acquiring an additional 20,326 shares during the quarter. CX Institutional’s holdings in Ameriprise Financial were worth $15,197,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Burkett Financial Services LLC bought a new position in shares of Ameriprise Financial in the third quarter valued at about $1,079,000. Montecito Bank & Trust boosted its holdings in shares of Ameriprise Financial by 122.8% during the 3rd quarter. Montecito Bank & Trust now owns 8,017 shares of the financial services provider’s stock worth $3,947,000 after buying an additional 4,418 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth about $5,040,000. Parrish Capital LLC acquired a new position in Ameriprise Financial in the 3rd quarter valued at about $11,327,000. Finally, Cim Investment Management Inc. acquired a new position in Ameriprise Financial in the 2nd quarter valued at about $3,370,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMP. Zacks Research downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Morgan Stanley upped their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. Jefferies Financial Group increased their target price on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Piper Sandler lifted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $555.33.

Insider Buying and Selling

In related news, EVP Deirdre Mcgraw sold 2,400 shares of the business’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 value of $1,339,872.00. Following the completion of the sale, the executive vice president directly owned 3,373 shares in the company, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William Williams sold 8,210 shares of the 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 sale, the insider directly owned 6,780 shares in the company, valued at $3,656,793. This represents a 54.77% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

NYSE:AMP traded down $3.37 during mid-day trading on Friday, reaching $491.45. 462,591 shares of the company’s stock were exchanged, compared to its average volume of 647,022. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. 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 simple moving average is $544.89 and its two-hundred day simple moving average is $493.42. The firm has a market capitalization of $44.18 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 0.88 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) 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 quarter in the previous year, the firm posted $9.11 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts anticipate that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Ameriprise Financial declared that its board has approved a share buyback 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.