Ameriprise Financial, Inc. $AMP Position Boosted by Focus Financial Network Inc.

Focus Financial Network Inc. boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1,310.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,944 shares of the financial services provider’s stock after purchasing an additional 11,097 shares during the period. Focus Financial Network Inc.’s holdings in Ameriprise Financial were worth $5,881,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Twin Lakes Capital Management LLC bought a new position in shares of Ameriprise Financial during the second quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at about $28,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $28,000. Fiduciary Financial Advisors bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at about $30,000. Finally, Retirement Wealth Solutions LLC lifted its stake in shares of Ameriprise Financial by 7,300.0% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 74 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 73 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $493.03 on Wednesday. The company has a market cap of $44.32 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 1.03 and a beta of 1.16. The company has a 50-day moving average price of $537.16 and a 200-day moving average price of $496.54. 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 12 month low of $422.37 and a 12 month high of $572.56.

Ameriprise Financial (NYSE:AMP) last posted 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 analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. Ameriprise Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $9.11 earnings per share. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 46.14 EPS for the current year.

Ameriprise Financial Dividend Announcement

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

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

Analysts Set New Price Targets

Several research firms recently issued reports on AMP. Raymond James Financial raised their price target on Ameriprise Financial from $582.00 to $638.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 21st. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Zacks Research downgraded Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Piper Sandler boosted their price objective on Ameriprise Financial from $518.00 to $561.00 in a research report on Thursday, July 23rd. Finally, The Goldman Sachs Group dropped their price objective on Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Moderate Buy” and a consensus target price of $572.55.

Insiders Place Their Bets

In other 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 transaction of $1,339,872.00. Following the transaction, the executive vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president owned 713 shares of the company’s stock, valued at approximately $398,517.09. This represents a 39.83% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 29,988 shares of company stock worth $16,316,497. Corporate insiders own 0.60% of the company’s stock.

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.