8,114 Shares of Ameriprise Financial, Inc. $AMP Bought by Eagle Strategies LLC

Eagle Strategies LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 8,114 shares of the financial services provider’s stock, valued at approximately $3,995,000.

A number of other large investors have also recently modified their holdings of AMP. State Street Corp grew its holdings in shares of Ameriprise Financial by 1,279.7% during the second 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 in the last quarter. Envestnet Asset Management Inc. raised its stake in Ameriprise Financial by 960.8% in the second 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 purchasing an additional 3,036,128 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Ameriprise Financial by 980.8% in the third 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 purchasing an additional 1,878,244 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in Ameriprise Financial in the third quarter valued at approximately $925,211,000. Finally, Douglas Lane & Associates LLC bought a new stake in Ameriprise Financial during the third quarter valued at approximately $575,767,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related news, EVP Deirdre Mcgraw sold 2,400 shares of the stock in a transaction on 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 transaction, the executive vice president owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Williams sold 8,210 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider directly owned 6,780 shares in the company, valued at approximately $3,656,793. This represents a 54.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 29,988 shares of company stock valued at $16,316,497. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

AMP has been the subject of a number of research reports. 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. Bank of America reissued a “buy” rating and issued a $570.00 price target (down from $616.00) on shares of Ameriprise Financial in a report on Monday, October 5th. 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. BMO Capital Markets dropped their price objective on shares of Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating for the company in a report on Tuesday, October 6th. Finally, The Goldman Sachs Group dropped their price objective on shares of Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $572.55.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $500.91 on Friday. The stock has a market cap of $45.03 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 1.03 and a beta of 1.16. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. The stock’s 50-day moving average is $533.72 and its 200 day moving average is $497.36.

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, topping analysts’ consensus estimates of $10.81 by $0.26. The company 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%. Ameriprise Financial’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.11 EPS. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.14 EPS for the current fiscal year.

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

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were paid a dividend of $1.70 per share. 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 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.