Ameriprise Financial, Inc. $AMP Stock Purchased by Toth Financial Advisory Corp

Toth Financial Advisory Corp grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 53,665.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,818 shares of the financial services provider’s stock after purchasing an additional 18,783 shares during the quarter. Toth Financial Advisory Corp’s holdings in Ameriprise Financial were worth $9,265,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Twin Lakes Capital Management LLC purchased a new stake in Ameriprise Financial in the second quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial during the second quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the first quarter worth approximately $28,000. Fiduciary Financial Advisors bought a new stake in shares of Ameriprise Financial in the 2nd quarter worth approximately $30,000. Finally, Retirement Wealth Solutions LLC boosted its stake in shares of Ameriprise Financial by 7,300.0% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 74 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 73 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Up 1.1%

Shares of NYSE:AMP traded up $5.30 during midday trading on Thursday, hitting $495.86. 156,813 shares of the stock traded hands, compared to its average volume of 642,498. The stock has a market capitalization of $44.58 billion, a PE ratio of 11.98, a P/E/G ratio of 1.02 and a beta of 1.16. The business’s 50 day moving average is $541.26 and its two-hundred day moving average is $495.04. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period last year, the firm earned $9.11 earnings per share. Ameriprise Financial’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current year.

Ameriprise Financial declared that its board has approved a share buyback plan on Tuesday, September 29th that permits the company to repurchase $5.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Ameriprise Financial Dividend Announcement

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

Insider Activity at Ameriprise Financial

In related news, CFO Walter Berman sold 11,012 shares of the business’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 transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deirdre Mcgraw sold 2,400 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. 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 company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on AMP. Keefe, Bruyette & Woods increased their target price 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. Zacks Research downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Piper Sandler raised their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings upgraded Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 3rd. Finally, Jefferies Financial Group boosted their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Moderate Buy” and an average price target of $559.80.

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.