Ameriprise Financial, Inc. $AMP Position Boosted by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 8,475.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,106 shares of the financial services provider’s stock after acquiring an additional 41,615 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Ameriprise Financial were worth $20,731,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Twin Lakes Capital Management LLC bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at about $25,000. Cassaday & Co Wealth Management LLC bought a new position in Ameriprise Financial in the first quarter worth about $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Ameriprise Financial in the second quarter worth about $28,000. Fiduciary Financial Advisors bought a new stake in Ameriprise Financial during the 2nd quarter valued at approximately $30,000. Finally, Evolution Wealth Management Inc. purchased a new position in shares of Ameriprise Financial during the 1st quarter worth approximately $34,000. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AMP shares. BMO Capital Markets dropped their price target on Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating on the stock in a research report on Tuesday. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Weiss Ratings raised shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 3rd. Piper Sandler upped their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Finally, Zacks Research cut Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $559.80.

Insiders Place Their Bets

In other Ameriprise Financial news, SVP Dawn Brockman sold 472 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president owned 713 shares of the company’s stock, valued at approximately $398,517.09. The trade was a 39.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $6,045,037.40. Following the sale, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 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.

Ameriprise Financial Stock Up 1.5%

Shares of NYSE:AMP traded up $7.50 during trading on Thursday, reaching $498.06. 172,831 shares of the stock traded hands, compared to its average volume of 642,558. The stock has a market cap of $44.78 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.02 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. The stock has a 50-day moving average of $541.26 and a two-hundred day moving average of $495.04. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a 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 declared that its Board of Directors has initiated a stock repurchase program on Tuesday, September 29th that permits the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.