1,142 Shares of Ameriprise Financial, Inc. $AMP Acquired by Frederick Financial Consultants LLC

Frederick Financial Consultants LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 1,142 shares of the financial services provider’s stock, valued at approximately $562,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Twin Lakes Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the second quarter worth approximately $25,000. Balance Wealth Partners LLC purchased a new stake in Ameriprise Financial in the third quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial during the second quarter worth approximately $28,000. City State Bank increased its position in Ameriprise Financial by 264.7% during the third quarter. City State Bank now owns 62 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 45 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Ameriprise Financial during the first quarter worth approximately $28,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related 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 transaction of $1,339,872.00. Following the sale, the executive vice president owned 3,373 shares of the company’s stock, valued at $1,883,078.44. The trade was a 41.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Dawn M. 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 transaction of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares in the company, valued at $398,517.09. This represents a 39.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMP. Argus increased their price target on shares of Ameriprise Financial from $534.00 to $590.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Evercore lowered their price objective on shares of Ameriprise Financial from $625.00 to $623.00 in a research note on Friday, July 24th. Jefferies Financial Group dropped their price objective on Ameriprise Financial from $645.00 to $638.00 in a report on Monday, October 12th. Zacks Research lowered Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Finally, Piper Sandler increased their target price on Ameriprise Financial from $518.00 to $561.00 in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $557.00.

Ameriprise Financial Trading Up 2.7%

Shares of AMP opened at $504.10 on Tuesday. The stock’s 50-day moving average is $518.52 and its two-hundred day moving average is $493.02. The stock has a market cap of $45.32 billion, a PE ratio of 11.34, a P/E/G ratio of 1.05 and a beta of 1.16. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.77 by ($0.51). The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.10 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $9.92 EPS. Equities analysts forecast that Ameriprise Financial, Inc. will post 46.08 earnings per share for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 29th that allows the company to repurchase $5.50 billion in shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its shares through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 9th will be paid a $1.70 dividend. The ex-dividend date is Monday, November 9th. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 15.30%.

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.