Ameriprise Financial, Inc. $AMP Shares Acquired by CenterBook Partners LP

CenterBook Partners LP grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 231.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,698 shares of the financial services provider’s stock after buying an additional 15,841 shares during the quarter. CenterBook Partners LP’s holdings in Ameriprise Financial were worth $11,175,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp grew its stake 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 valued at $29,069,493,000 after acquiring an additional 58,772,775 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of 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 worth $1,537,817,000 after purchasing an additional 3,036,128 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of 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 purchasing an additional 1,878,244 shares during the period. Artemis Investment Management LLP bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $925,211,000. Finally, Douglas Lane & Associates LLC purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at $575,767,000. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on AMP shares. Argus upped their target price on shares of Ameriprise Financial from $534.00 to $590.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Zacks Research downgraded Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Piper Sandler upped their price objective on Ameriprise Financial from $518.00 to $561.00 in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods lifted their target price 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. Finally, BMO Capital Markets lowered their price target on Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating on the stock in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $557.00.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded down $6.88 during mid-day trading on Friday, reaching $502.44. The stock had a trading volume of 557,363 shares, compared to its average volume of 572,403. The business’s 50 day moving average price is $514.63 and its 200 day moving average price is $493.16. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The company has a market cap of $43.62 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 1.08 and a beta of 1.13. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, October 29th. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.77 by ($0.51). Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the firm earned $9.92 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Research analysts expect that Ameriprise Financial, Inc. will post 46.29 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 9th will be paid 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 of this dividend is Monday, November 9th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 15.30%.

Ameriprise Financial announced that its board has initiated a stock buyback program on Tuesday, September 29th that permits the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Ameriprise Financial

In related news, SVP Dawn Brockman sold 472 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the sale, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. This represents a 39.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Profile

Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products.

The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis.

Ameriprise serves clients primarily in the United States through its network of financial advisors.