Ameriprise Financial, Inc. $AMP Stock Holdings Raised by First County Bank CT

First County Bank CT raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 660.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,529 shares of the financial services provider’s stock after purchasing an additional 10,882 shares during the period. Ameriprise Financial accounts for 2.7% of First County Bank CT’s holdings, making the stock its 7th biggest holding. First County Bank CT’s holdings in Ameriprise Financial were worth $6,169,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in Ameriprise Financial by 1,279.7% in the second 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. increased its holdings in shares of Ameriprise Financial by 960.8% during the second 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 acquiring an additional 3,036,128 shares in the last quarter. 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 raised its position in shares of Ameriprise Financial by 2.0% during 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. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 1.5%

Shares of AMP traded down $7.43 during trading hours on Tuesday, reaching $492.58. 81,583 shares of the stock traded hands, compared to its average volume of 639,261. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The company has a market cap of $44.28 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.03 and a beta of 1.16. The stock has a fifty day simple moving average of $538.37 and a 200 day simple moving average of $496.25. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping 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 business 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 posted $9.11 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 46.17 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued a $1.70 dividend. The ex-dividend date of this dividend 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 currently 16.40%.

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

Wall Street Analyst Weigh In

AMP has been the topic of several research reports. Bank of America restated a “buy” rating and set a $570.00 price objective on shares of Ameriprise Financial in a report on Monday, October 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. BMO Capital Markets decreased their target price on shares of 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. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $558.00.

Insiders Place Their Bets

In related news, insider William Williams sold 8,210 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the sale, the insider directly owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deirdre Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president owned 3,373 shares in the company, valued at $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 29,988 shares of company stock valued at $16,316,497. Insiders own 0.60% of the company’s stock.

Ameriprise Financial 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.