27,318 Shares in Ameriprise Financial, Inc. $AMP Bought by Marotta Asset Management

Marotta Asset Management bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 27,318 shares of the financial services provider’s stock, valued at approximately $13,450,000. Ameriprise Financial accounts for about 2.2% of Marotta Asset Management’s holdings, making the stock its 12th biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMP. State Street Corp boosted its position in Ameriprise Financial by 1,279.7% during the 2nd quarter. State Street Corp now owns 63,365,362 shares of the financial services provider’s stock valued at $29,069,493,000 after buying an additional 58,772,775 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Ameriprise Financial by 960.8% in the second quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider’s stock valued at $1,537,817,000 after acquiring an additional 3,036,128 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Ameriprise Financial by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock valued at $455,387,000 after acquiring an additional 19,731 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Ameriprise Financial by 18.7% during the first quarter. First Trust Advisors LP now owns 983,096 shares of the financial services provider’s stock valued at $436,888,000 after acquiring an additional 154,659 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Ameriprise Financial by 2.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 817,247 shares of the financial services provider’s stock worth $374,920,000 after purchasing an additional 22,819 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 472 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president owned 713 shares of the company’s stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. 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 firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the transaction, the executive vice president directly owned 3,373 shares of the company’s stock, valued at $1,883,078.44. This represents a 41.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, 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 Trading Down 0.7%

Shares of NYSE AMP traded down $3.37 during midday trading on Friday, hitting $491.45. 462,591 shares of the company traded hands, compared to its average volume of 647,022. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The firm has a market cap of $44.18 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.88 and a beta of 1.16. The stock has a 50-day moving average price of $544.89 and a 200 day moving average price of $493.42. 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 quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. Ameriprise Financial’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $9.11 earnings per share. As a group, analysts expect that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

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

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders 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 (DPR) is presently 16.40%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley raised their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Piper Sandler increased their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 3rd. Finally, Zacks Research lowered Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $555.33.

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.