Ameriprise Financial, Inc. $AMP Shares Newly Acquired by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 11,851 shares of the financial services provider’s stock, valued at approximately $5,835,000.

Several other large investors also recently added to or reduced their stakes in AMP. Twin Lakes Capital Management LLC bought a new position in Ameriprise Financial during the second quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $28,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Ameriprise Financial in the 1st quarter valued at approximately $28,000. Fiduciary Financial Advisors acquired a new stake in Ameriprise Financial in the 2nd quarter worth approximately $30,000. Finally, Retirement Wealth Solutions LLC boosted its position in Ameriprise Financial by 7,300.0% during the third quarter. Retirement Wealth Solutions LLC now owns 74 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 73 shares during the period. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Up 0.0%

AMP traded up $0.17 during midday trading on Thursday, reaching $495.99. 167,555 shares of the company were exchanged, compared to its average volume of 637,610. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year 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. The stock has a market capitalization of $44.59 billion, a P/E ratio of 11.96, a PEG ratio of 1.01 and a beta of 1.16. The stock’s 50-day simple moving average is $535.87 and its 200 day simple moving average is $496.87.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $4.87 billion. During the same period last year, the company earned $9.11 earnings per share. Ameriprise Financial’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, analysts forecast that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were paid a dividend of $1.70 per share. 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 payout ratio is presently 16.40%.

Ameriprise Financial declared that its board has initiated a share buyback program on Tuesday, September 29th that authorizes the company to repurchase $5.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Share repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AMP shares. Piper Sandler raised their target price on shares of Ameriprise Financial from $518.00 to $561.00 in a research note on Thursday, July 23rd. Zacks Research lowered Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Raymond James Financial raised their target price on Ameriprise Financial from $582.00 to $638.00 and gave the company a “strong-buy” rating in a report on Friday, August 21st. Jefferies Financial Group reduced their price objective on Ameriprise Financial from $645.00 to $638.00 in a research report on Monday. Finally, Royal Bank Of Canada upped their target price on shares of Ameriprise Financial from $560.00 to $595.00 in a research note on Friday, July 24th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $572.55.

Insider Buying and Selling at Ameriprise Financial

In related news, insider William Williams sold 8,210 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the sale, the insider owned 6,780 shares in the company, valued at $3,656,793. This represents a 54.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deirdre Mcgraw sold 2,400 shares of Ameriprise Financial 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 sale, 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 position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 29,988 shares of company stock worth $16,316,497. Company insiders own 0.60% of the company’s stock.

About Ameriprise Financial

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.