Ameriprise Financial, Inc. $AMP Shares Newly Purchased by Lawood & Co.

Lawood & Co. acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, HoldingsChannel.com reports. The fund acquired 23,634 shares of the financial services provider’s stock, valued at approximately $11,636,000. Ameriprise Financial comprises 7.0% of Lawood & Co.’s holdings, making the stock its 3rd largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMP. Neville Rodie & Shaw Inc. raised its stake in Ameriprise Financial by 4,524.8% during the third quarter. Neville Rodie & Shaw Inc. now owns 32,651 shares of the financial services provider’s stock worth $16,076,000 after buying an additional 31,945 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the 2nd quarter worth about $1,704,000. Ballew Advisors Inc acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at about $4,112,000. Canandaigua National Bank & Trust Co. acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at about $4,162,000. Finally, Iowa State Bank bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $31,154,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Deirdre Mcgraw sold 2,400 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 3,373 shares of the company’s stock, valued at $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Dawn Brockman sold 472 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the sale, the senior vice president owned 713 shares in the company, valued at $398,517.09. This represents a 39.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,988 shares of company stock valued at $16,316,497 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Up 0.5%

Ameriprise Financial stock traded up $2.43 during mid-day trading on Friday, reaching $501.51. The stock had a trading volume of 144,981 shares, compared to its average volume of 642,012. The firm has a market capitalization of $45.08 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.01 and a beta of 1.16. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The stock’s 50-day simple moving average is $540.34 and its 200-day simple moving average is $495.47. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71.

Ameriprise Financial (NYSE:AMP) last issued 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. 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 period in the prior year, the firm earned $9.11 earnings per share. Ameriprise Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 46.14 EPS for the current fiscal year.

Ameriprise Financial declared that its board has authorized a share repurchase plan on Tuesday, September 29th that permits the company to buyback $5.50 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders 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 of this dividend was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AMP shares. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 3rd. Zacks Research downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. BMO Capital Markets lowered 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 research note on Tuesday. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Bank of America reissued a “buy” rating and set a $570.00 target price on shares of Ameriprise Financial in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $558.00.

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.