Iowa State Bank Makes New $31.15 Million Investment in Ameriprise Financial, Inc. $AMP

Iowa State Bank acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 63,276 shares of the financial services provider’s stock, valued at approximately $31,154,000. Ameriprise Financial accounts for about 5.0% of Iowa State Bank’s investment portfolio, making the stock its 3rd largest position.

A number of other institutional investors also recently bought and sold shares of the business. SouthState Bank Corp boosted its stake in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares during the period. Twin Lakes Capital Management LLC acquired a new position in Ameriprise Financial in the 2nd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial in the 2nd quarter valued at about $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in Ameriprise Financial during the 1st quarter valued at approximately $28,000. Finally, Fiduciary Financial Advisors acquired a new stake in Ameriprise Financial during the 2nd quarter worth approximately $30,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMP has been the topic of several analyst reports. Zacks Research downgraded Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Piper Sandler upped their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Finally, Bank of America restated a “buy” rating and set a $570.00 price objective on shares of Ameriprise Financial in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has given 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 a consensus price target of $559.80.

Insider Activity at Ameriprise Financial

In related news, EVP Deirdre Mcgraw sold 2,400 shares of the business’s stock in a transaction dated 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 sale, the executive vice president 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Dawn Brockman sold 472 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the transaction, the senior vice president owned 713 shares in the company, valued at $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,988 shares of company stock worth $16,316,497 over the last three months. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

AMP stock traded down $3.50 on Tuesday, reaching $491.44. 157,629 shares of the company’s stock were exchanged, compared to its average volume of 644,066. The stock has a fifty day moving average of $543.30 and a 200-day moving average of $494.20. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56. The firm has a market cap of $44.18 billion, a PE ratio of 11.85, a P/E/G ratio of 0.88 and a beta of 1.16. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.Ameriprise Financial’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $9.11 earnings per share. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued 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 currently 16.40%.

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

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.