PFW Advisors LLC Makes New $2.45 Million Investment in Ameriprise Financial, Inc. $AMP

PFW Advisors LLC bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,975 shares of the financial services provider’s stock, valued at approximately $2,449,000. Ameriprise Financial makes up approximately 0.7% of PFW Advisors LLC’s portfolio, making the stock its 27th biggest holding.

Other institutional investors have also recently modified their holdings of the company. SouthState Bank Corp increased its holdings in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 22 shares in the last quarter. Rexford Capital Inc. lifted its holdings in shares of Ameriprise Financial by 19.5% in the first quarter. Rexford Capital Inc. now owns 147 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 24 shares in the last quarter. North Dakota State Investment Board lifted its holdings in shares of Ameriprise Financial by 0.9% in the second quarter. North Dakota State Investment Board now owns 2,716 shares of the financial services provider’s stock valued at $1,246,000 after purchasing an additional 24 shares in the last quarter. HBK Sorce Advisory LLC grew its position in shares of Ameriprise Financial by 2.8% in the second quarter. HBK Sorce Advisory LLC now owns 892 shares of the financial services provider’s stock valued at $409,000 after purchasing an additional 24 shares during the last quarter. Finally, Revolve Wealth Partners LLC grew its position in shares of Ameriprise Financial by 5.0% in the second quarter. Revolve Wealth Partners LLC now owns 529 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 25 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Down 1.0%

Ameriprise Financial stock traded down $4.75 during trading on Wednesday, hitting $491.86. The company’s stock had a trading volume of 171,637 shares, compared to its average volume of 643,658. The stock’s fifty day moving average is $542.29 and its 200 day moving average is $494.64. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. The stock has a market capitalization of $44.22 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 0.89 and a beta of 1.16. 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 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the previous year, the business earned $9.11 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 46.19 EPS for the current year.

Ameriprise Financial declared that its Board of Directors 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 purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio is 16.40%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Berman sold 11,012 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William Williams sold 8,210 shares of Ameriprise Financial stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the transaction, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research reports. Morgan Stanley lifted their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. BMO Capital Markets lowered their target price on Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating on the stock in a report on Tuesday. Piper Sandler raised their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 3rd. Finally, Bank of America restated a “buy” rating and issued a $570.00 price objective on shares of Ameriprise Financial in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Moderate Buy” and an average price target of $559.80.

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.