Counterpoint Mutual Funds LLC Takes $411,000 Position in Ameriprise Financial, Inc. $AMP

Counterpoint Mutual Funds LLC purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 770 shares of the financial services provider’s stock, valued at approximately $411,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMP. TD Capital Management LLC grew its stake in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in Ameriprise Financial in the 1st quarter valued at $29,000. WPG Advisers LLC acquired a new stake in Ameriprise Financial in the 1st quarter valued at $33,000. Opal Wealth Advisors LLC bought a new stake in Ameriprise Financial in the first quarter valued at $36,000. Finally, TCTC Holdings LLC raised its stake in Ameriprise Financial by 100.0% during the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMP. Piper Sandler lifted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Morgan Stanley cut shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada lifted their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $534.71.

Ameriprise Financial Stock Down 0.1%

Shares of NYSE AMP opened at $493.65 on Wednesday. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The firm’s 50-day simple moving average is $509.20 and its 200 day simple moving average is $501.66. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market cap of $46.54 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.05 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm posted $8.72 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 19.91%.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.