Ameriprise Financial, Inc. $AMP Shares Newly Bought by Artemis Investment Management LLP

Artemis Investment Management LLP purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,879,173 shares of the financial services provider’s stock, valued at approximately $925,211,000. Ameriprise Financial comprises approximately 7.2% of Artemis Investment Management LLP’s portfolio, making the stock its largest position.

A number of other institutional investors have also made changes to their positions in the stock. Twin Lakes Capital Management LLC acquired a new position in Ameriprise Financial during the second quarter valued at approximately $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 position in Ameriprise Financial in the 1st quarter worth $28,000. Fiduciary Financial Advisors bought a new position in Ameriprise Financial in the 2nd quarter worth $30,000. Finally, Retirement Wealth Solutions LLC lifted its position in Ameriprise Financial by 7,300.0% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 74 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 73 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider William Williams sold 8,210 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total value of $4,428,063.50. Following the sale, the insider owned 6,780 shares of the company’s stock, valued at $3,656,793. The trade was a 54.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the executive vice president owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Performance

AMP stock traded up $6.37 during trading on Thursday, reaching $496.93. 164,554 shares of the stock were exchanged, compared to its average volume of 642,498. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56. The company has a market capitalization of $44.67 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.02 and a beta of 1.16. The stock has a 50 day simple moving average of $541.26 and a 200-day simple moving average of $495.04. 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 (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 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 firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the prior year, the firm posted $9.11 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current year.

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

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were 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 was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is presently 16.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 3rd. Jefferies Financial Group increased their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Zacks Research lowered Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Bank of America reiterated a “buy” rating and set a $570.00 price target on shares of Ameriprise Financial in a report on Monday. Finally, Morgan Stanley increased their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $559.80.

Ameriprise Financial 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.