Neville Rodie & Shaw Inc. Purchases 31,945 Shares of Ameriprise Financial, Inc. $AMP

Neville Rodie & Shaw Inc. grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4,524.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 32,651 shares of the financial services provider’s stock after buying an additional 31,945 shares during the period. Ameriprise Financial makes up approximately 1.1% of Neville Rodie & Shaw Inc.’s investment portfolio, making the stock its 23rd largest position. Neville Rodie & Shaw Inc.’s holdings in Ameriprise Financial were worth $16,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. SouthState Bank Corp grew its holdings in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares in the last quarter. Twin Lakes Capital Management LLC bought a new position in shares of Ameriprise Financial in the second quarter worth $25,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Ameriprise Financial in the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial during the second quarter valued at $28,000. Finally, Fiduciary Financial Advisors acquired a new position in shares of Ameriprise Financial during the second quarter valued at $30,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Zacks Research downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Bank of America reaffirmed a “buy” rating and issued a $570.00 price target on shares of Ameriprise Financial in a research note on Monday. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $556.80.

Ameriprise Financial Trading Up 0.5%

Shares of Ameriprise Financial stock traded up $2.25 on Monday, reaching $493.17. 192,679 shares of the company were exchanged, compared to its average volume of 644,566. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The firm has a market capitalization of $44.34 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 0.88 and a beta of 1.16. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The stock has a fifty day moving average price of $544.14 and a 200-day moving average price of $493.79.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results 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 return on equity of 64.19% and a net margin of 20.24%.Ameriprise Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $9.11 EPS. On average, analysts expect that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

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

Insider Activity

In other news, EVP Deirdre Mcgraw sold 2,400 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dawn Brockman sold 472 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the sale, the senior vice president owned 713 shares of the company’s stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by insiders.

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.