54,877 Shares in Ameriprise Financial, Inc. $AMP Acquired by Hardin Capital Partners LLC

Hardin Capital Partners LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 54,877 shares of the financial services provider’s stock, valued at approximately $27,019,000. Ameriprise Financial comprises 11.7% of Hardin Capital Partners LLC’s investment portfolio, making the stock its 2nd biggest holding. Hardin Capital Partners LLC owned 0.06% of Ameriprise Financial as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of AMP. Rexford Capital Inc. grew its holdings in Ameriprise Financial by 19.5% during the first quarter. Rexford Capital Inc. now owns 147 shares of the financial services provider’s stock worth $65,000 after buying an additional 24 shares in the last quarter. North Dakota State Investment Board lifted its stake in Ameriprise Financial by 0.9% during the 2nd quarter. North Dakota State Investment Board now owns 2,716 shares of the financial services provider’s stock valued at $1,246,000 after acquiring an additional 24 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in Ameriprise Financial by 2.8% during the 2nd quarter. HBK Sorce Advisory LLC now owns 892 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 24 shares during the last quarter. Fulton Bank N.A. boosted its holdings in Ameriprise Financial by 0.4% during the 2nd quarter. Fulton Bank N.A. now owns 6,688 shares of the financial services provider’s stock worth $3,068,000 after acquiring an additional 25 shares during the last quarter. Finally, Revolve Wealth Partners LLC grew its stake in shares of Ameriprise Financial by 5.0% in the 2nd quarter. Revolve Wealth Partners LLC now owns 529 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $498.80 on Friday. 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 firm has a market cap of $44.84 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.01 and a beta of 1.16. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The firm’s 50-day simple moving average is $540.34 and its two-hundred day simple moving average is $495.47.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating 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 firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the firm earned $9.11 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current year.

Ameriprise Financial announced that its Board of Directors has initiated a share repurchase program on Tuesday, September 29th that permits the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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 was Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio is presently 16.40%.

Insider Buying and Selling at Ameriprise Financial

In related news, CFO Walter Berman sold 11,012 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William Williams sold 8,210 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. This represents a 54.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,988 shares of company stock worth $16,316,497 over the last ninety days. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMP shares. Weiss Ratings raised shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Jefferies Financial Group lifted their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Piper Sandler upped their target price on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Finally, BMO Capital Markets decreased their price target on Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $558.67.

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.