4,048 Ameriprise Financial, Inc. $AMP Shares Acquired by Dakota Community Bank & Trust NA

Dakota Community Bank & Trust NA grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 413.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,026 shares of the financial services provider’s stock after acquiring an additional 4,048 shares during the quarter. Ameriprise Financial accounts for 6.4% of Dakota Community Bank & Trust NA’s holdings, making the stock its 3rd biggest position. Dakota Community Bank & Trust NA’s holdings in Ameriprise Financial were worth $2,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Neville Rodie & Shaw Inc. grew its holdings in Ameriprise Financial by 4,524.8% in the third quarter. Neville Rodie & Shaw Inc. now owns 32,651 shares of the financial services provider’s stock worth $16,076,000 after purchasing an additional 31,945 shares during the period. EP Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the second quarter worth about $1,704,000. Ballew Advisors Inc bought a new position in shares of Ameriprise Financial in the third quarter worth approximately $4,112,000. Canandaigua National Bank & Trust Co. bought a new stake in Ameriprise Financial during the 3rd quarter valued at approximately $4,162,000. Finally, Iowa State Bank bought a new stake in Ameriprise Financial in the 3rd quarter valued at $31,154,000. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Morgan Stanley dropped their price objective on Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Zacks Research lowered Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Finally, BMO Capital Markets dropped their target price on Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four 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 currently has a consensus rating of “Moderate Buy” and an average price target of $558.00.

Insider Activity

In other news, SVP Dawn M. Brockman sold 472 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were 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 approximately $398,517.09. The trade was a 39.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Walter Berman sold 11,012 shares of the firm’s 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 transaction, 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Performance

AMP traded up $2.70 during trading on Friday, hitting $501.78. The stock had a trading volume of 141,042 shares, compared to its average volume of 641,979. 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 company’s 50-day moving average price is $540.34 and its 200 day moving average price is $495.47. The firm has a market capitalization of $45.11 billion, a P/E ratio of 12.10, a PEG ratio of 1.01 and a beta of 1.16. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data 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. 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%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.11 earnings per share. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 46.14 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors 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 payout ratio is presently 16.40%.

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

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.