4,651 Shares in Ameriprise Financial, Inc. $AMP Bought by Intergy Private Wealth LLC

Intergy Private Wealth LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,651 shares of the financial services provider’s stock, valued at approximately $2,290,000.

A number of other large investors have also added to or reduced their stakes in AMP. Twin Lakes Capital Management LLC bought a new position in Ameriprise Financial during the 2nd quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial in the 2nd quarter valued at $28,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter valued at $28,000. Fiduciary Financial Advisors bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $30,000. Finally, Daytona Street Capital LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMP. Piper Sandler increased their target price on Ameriprise Financial from $518.00 to $561.00 in a report on Thursday, July 23rd. Evercore dropped their price target on Ameriprise Financial from $625.00 to $623.00 in a research note on Friday, July 24th. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Zacks Research downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Finally, Royal Bank Of Canada raised their target price on shares of Ameriprise Financial from $560.00 to $595.00 in a report on Friday, July 24th. One 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $572.55.

Ameriprise Financial Price Performance

NYSE AMP traded down $1.67 on Friday, hitting $500.91. 581,724 shares of the company’s stock were exchanged, compared to its average volume of 647,053. The stock has a 50-day moving average of $533.72 and a 200-day moving average of $497.36. 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 52 week low of $422.37 and a 52 week high of $572.56. 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.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the company posted $9.11 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts expect that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were paid 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 initiated a share 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. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Deirdre Mcgraw sold 2,400 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was 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 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $6,045,037.40. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,079,060.55. This trade represents a 66.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is owned by corporate insiders.

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.