Robeco Institutional Asset Management B.V. Purchases 6,293 Shares of Ameriprise Financial, Inc. $AMP

Robeco Institutional Asset Management B.V. grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 301,367 shares of the financial services provider’s stock after purchasing an additional 6,293 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Ameriprise Financial were worth $148,378,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Twin Lakes Capital Management LLC purchased a new position in Ameriprise Financial during the second quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Ameriprise Financial in the second quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in Ameriprise Financial during the first quarter worth $28,000. Fiduciary Financial Advisors purchased a new stake in Ameriprise Financial during the second quarter worth $30,000. Finally, Daytona Street Capital LLC purchased a new stake in Ameriprise Financial during the third quarter worth $33,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other Ameriprise Financial news, 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 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 approximately $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Williams sold 8,210 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 6,780 shares in the company, valued at approximately $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,988 shares of company stock valued at $16,316,497 over the last three months. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AMP. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. BMO Capital Markets reduced 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, October 6th. Argus boosted their price target on Ameriprise Financial from $534.00 to $590.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. The Goldman Sachs Group decreased their price objective on Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Finally, Evercore dropped their price objective on Ameriprise Financial from $625.00 to $623.00 in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $557.00.

Ameriprise Financial Trading Up 0.6%

NYSE AMP opened at $490.62 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The firm has a market cap of $44.11 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.05 and a beta of 1.16. The company has a 50 day moving average price of $529.17 and a 200 day moving average price of $498.79. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56.

Ameriprise Financial (NYSE:AMP) last posted 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 analysts’ expectations of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. Ameriprise Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.11 earnings per share. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 46.13 EPS for the current fiscal year.

Ameriprise Financial declared that its Board of Directors has authorized a stock buyback program on Tuesday, September 29th that allows the company to buy back $5.50 billion in shares. This buyback authorization allows the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Ameriprise Financial Profile

Ameriprise Financial, Inc (NYSE:AMP) is a diversified financial services company that provides advice, wealth management, asset management, insurance and retirement solutions. Through its network of financial advisors and digital platforms, the company serves individuals, families, businesses and institutions with financial planning, investment management and related services.

Its products and services include brokerage and advisory accounts, mutual funds and exchange-traded funds, retirement plans, annuities, life and long-term care insurance, banking services and financial planning.