Ameriprise Financial, Inc. $AMP Stock Purchased by Kintegral Advisory LLC

Kintegral Advisory LLC boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1,775.0% in the third quarter, Holdings Channel.com reports. The firm owned 37,763 shares of the financial services provider’s stock after acquiring an additional 35,749 shares during the quarter. Ameriprise Financial makes up about 1.3% of Kintegral Advisory LLC’s holdings, making the stock its 12th largest position. Kintegral Advisory LLC’s holdings in Ameriprise Financial were worth $18,593,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AMP. New England Research & Management Inc. acquired a new position in Ameriprise Financial during the 3rd quarter worth approximately $26,515,000. Intergy Private Wealth LLC purchased a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $2,290,000. Avail Investment Partners LLC lifted its holdings in shares of Ameriprise Financial by 2.6% in the 3rd quarter. Avail Investment Partners LLC now owns 800 shares of the financial services provider’s stock valued at $394,000 after buying an additional 20 shares during the period. RKL Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at approximately $7,663,000. Finally, Hengehold Capital Management LLC boosted its stake in shares of Ameriprise Financial by 742.6% in the third quarter. Hengehold Capital Management LLC now owns 7,280 shares of the financial services provider’s stock valued at $3,584,000 after buying an additional 6,416 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP stock traded down $1.67 during midday trading on Friday, reaching $500.91. 581,724 shares of the company traded hands, compared to its average volume of 647,053. The firm’s 50 day simple moving average is $533.72 and its two-hundred day simple moving average is $497.36. The firm has a market cap of $45.03 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.03 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56.

Ameriprise Financial (NYSE:AMP) last released its quarterly 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 business had revenue of $4.90 billion for 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 was up 11.6% compared to the same quarter last year. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 46.14 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced 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. This represents a $6.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s payout ratio is presently 16.40%.

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

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price objective on Ameriprise Financial from $645.00 to $638.00 in a report on Monday, October 12th. The Goldman Sachs Group reduced their target price on Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. Piper Sandler raised their target price on Ameriprise Financial from $518.00 to $561.00 in a report on Thursday, July 23rd. BMO Capital Markets decreased their target price on shares of Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 6th. Finally, Bank of America reaffirmed a “buy” rating and set a $570.00 price target (down from $616.00) on shares of Ameriprise Financial in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $572.55.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Deirdre Mcgraw sold 2,400 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dawn Brockman sold 472 shares of the firm’s stock in a transaction 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 completion of 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. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 over the last ninety days. 0.60% of the stock is currently owned by company insiders.

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.