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

Artemis Investment Management LLP purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,879,173 shares of the financial services provider’s stock, valued at approximately $925,211,000. Ameriprise Financial makes up 7.2% of Artemis Investment Management LLP’s portfolio, making the stock its biggest holding. Artemis Investment Management LLP owned about 2.09% of Ameriprise Financial as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EP Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 2nd quarter worth approximately $1,704,000. Neville Rodie & Shaw Inc. boosted its holdings 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 in the last quarter. Ballew Advisors Inc acquired a new position in Ameriprise Financial in the third quarter worth approximately $4,112,000. Canandaigua National Bank & Trust Co. acquired a new position in Ameriprise Financial in the third quarter worth approximately $4,162,000. Finally, Iowa State Bank bought a new position in shares of Ameriprise Financial in the third quarter valued at $31,154,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reduced their price objective on 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 Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Piper Sandler increased their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Finally, Bank of America reissued a “buy” rating and issued a $570.00 price target on shares of Ameriprise Financial in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $559.80.

Ameriprise Financial Stock Up 1.3%

NYSE:AMP traded up $6.37 during trading hours on Thursday, hitting $496.93. 164,554 shares of the company’s stock traded hands, compared to its average volume of 642,498. The stock’s fifty day moving average price is $541.26 and its two-hundred day moving average price is $495.04. The firm has a market cap of $44.67 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.02 and a beta of 1.16. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56. 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 posted 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 net margin of 20.24% and a return on equity of 64.19%. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the business posted $9.11 earnings per share. Ameriprise Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts expect that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were paid 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 dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

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

Insider Transactions at Ameriprise Financial

In related news, insider William Williams sold 8,210 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the transaction, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Deirdre Mcgraw sold 2,400 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 3,373 shares in the company, valued at approximately $1,883,078.44. The trade was a 41.57% 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 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

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.