Focus Financial Network Inc. Buys 11,097 Shares of Ameriprise Financial, Inc. $AMP

Focus Financial Network Inc. boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1,310.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,944 shares of the financial services provider’s stock after buying an additional 11,097 shares during the period. Focus Financial Network Inc.’s holdings in Ameriprise Financial were worth $5,881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in shares of Ameriprise Financial by 1,279.7% in the 2nd quarter. State Street Corp now owns 63,365,362 shares of the financial services provider’s stock worth $29,069,493,000 after acquiring an additional 58,772,775 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Ameriprise Financial by 960.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider’s stock valued at $1,537,817,000 after purchasing an additional 3,036,128 shares during the period. Artemis Investment Management LLP bought a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $925,211,000. Douglas Lane & Associates LLC bought a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $575,767,000. Finally, Dimensional Fund Advisors LP grew its stake in Ameriprise Financial by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock worth $455,387,000 after purchasing an additional 19,731 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Berman sold 11,012 shares of Ameriprise Financial stock in a transaction on 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 completion of the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Dawn Brockman sold 472 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the sale, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,988 shares of company stock worth $16,316,497 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMP shares. Evercore decreased their price objective on Ameriprise Financial from $625.00 to $623.00 in a report on Friday, July 24th. Royal Bank Of Canada raised their price objective on Ameriprise Financial from $560.00 to $595.00 in a research report on Friday, July 24th. Raymond James Financial boosted their target price on shares of Ameriprise Financial from $582.00 to $638.00 and gave the company a “strong-buy” rating in a report on Friday, August 21st. Bank of America reaffirmed a “buy” rating and issued a $570.00 target price (down from $616.00) on shares of Ameriprise Financial in a research report on Monday, October 5th. Finally, Zacks Research downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Moderate Buy” and an average target price of $572.55.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $493.03 on Wednesday. The company has a 50 day simple moving average of $537.16 and a two-hundred day simple moving average of $496.54. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The company has a market capitalization of $44.32 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 1.03 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 issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the previous year, the firm posted $9.11 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts expect that Ameriprise Financial, Inc. will post 46.14 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 29th that permits the company to buy back $5.50 billion in shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Share buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The business also recently disclosed 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. This represents a $6.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

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.