4,545 Ameriprise Financial, Inc. $AMP Shares Bought by Integrated Advisors Network LLC

Integrated Advisors Network LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 360.7% during the third quarter, HoldingsChannel reports. The fund owned 5,805 shares of the financial services provider’s stock after buying an additional 4,545 shares during the period. Integrated Advisors Network LLC’s holdings in Ameriprise Financial were worth $2,858,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Twin Lakes Capital Management LLC bought a new position in Ameriprise Financial during the 2nd quarter worth about $25,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the first quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial in the second quarter valued at about $28,000. Fiduciary Financial Advisors bought a new stake in shares of Ameriprise Financial in the second quarter valued at about $30,000. Finally, Daytona Street Capital LLC acquired a new position in shares of Ameriprise Financial during the third quarter worth about $33,000. 83.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Dawn M. Brockman sold 472 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were 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 directly owned 713 shares of the company’s stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Williams sold 8,210 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research reports. The Goldman Sachs Group decreased their price objective on Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. Royal Bank Of Canada boosted their target price on Ameriprise Financial from $560.00 to $595.00 in a research note on Friday, July 24th. Piper Sandler upped their price target on Ameriprise Financial from $518.00 to $561.00 in a research report on Thursday, July 23rd. Evercore decreased their price target on shares of Ameriprise Financial from $625.00 to $623.00 in a research note on Friday, July 24th. Finally, Bank of America reiterated an “underperform” rating and issued a $445.00 price objective (down from $570.00) on shares of Ameriprise Financial in a report on Monday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $557.00.

Ameriprise Financial Stock Performance

AMP opened at $490.62 on Thursday. The business’s 50-day simple moving average is $529.17 and its 200 day simple moving average is $498.79. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56. 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 firm has a market capitalization of $44.11 billion, a PE ratio of 11.83, a PEG ratio of 1.05 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted 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 firm 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 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. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 46.13 earnings per share for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has approved a share repurchase plan 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 buy up to 12.3% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Ameriprise Financial Profile

Ameriprise Financial, Inc (NYSE:AMP) is a diversified financial services company that provides advice, wealth management, asset management, insurance and retirement solutions. Through its network of financial advisors and digital platforms, the company serves individuals, families, businesses and institutions with financial planning, investment management and related services.

Its products and services include brokerage and advisory accounts, mutual funds and exchange-traded funds, retirement plans, annuities, life and long-term care insurance, banking services and financial planning.