Courier Capital LLC Buys 1,715 Shares of Ameriprise Financial, Inc. $AMP

Courier Capital LLC boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 52.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,960 shares of the financial services provider’s stock after buying an additional 1,715 shares during the period. Courier Capital LLC’s holdings in Ameriprise Financial were worth $2,442,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMP. First County Bank CT increased its position in Ameriprise Financial by 660.7% during the third quarter. First County Bank CT now owns 12,529 shares of the financial services provider’s stock valued at $6,169,000 after acquiring an additional 10,882 shares during the last quarter. Fragasso Financial Advisors Inc bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth about $209,000. NorthCrest Asset Manangement LLC lifted its holdings in shares of Ameriprise Financial by 85.8% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 10,423 shares of the financial services provider’s stock worth $5,132,000 after acquiring an additional 4,812 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Ameriprise Financial by 869.5% in the 3rd quarter. Avior Wealth Management LLC now owns 9,443 shares of the financial services provider’s stock worth $4,649,000 after acquiring an additional 8,469 shares during the last quarter. Finally, Perpetual Ltd purchased a new position in shares of Ameriprise Financial during the 3rd quarter worth about $242,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Down 1.4%

AMP stock traded down $6.99 during midday trading on Tuesday, reaching $493.03. The company’s stock had a trading volume of 420,778 shares, compared to its average volume of 641,015. 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 stock has a fifty day simple moving average of $538.37 and a two-hundred day simple moving average of $496.25. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The firm has a market capitalization of $44.32 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.03 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $9.11 earnings per share. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 46.17 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared 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 was Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio is presently 16.40%.

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

Analyst Ratings Changes

AMP has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on shares of Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. BMO Capital Markets reduced their price objective on shares of Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 6th. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating for the company in a research note on Friday. Piper Sandler boosted their target price on Ameriprise Financial from $518.00 to $561.00 in a research report on Thursday, July 23rd. Finally, Bank of America restated a “buy” rating and set a $570.00 target price (down from $616.00) on shares of Ameriprise Financial in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $572.55.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Berman sold 11,012 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at $3,079,060.55. This trade represents a 66.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Deirdre Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction dated 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is currently owned by corporate 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.