23,002 Shares in Ameriprise Financial, Inc. $AMP Purchased by Monument Capital Management

by · The Markets Daily

Monument Capital Management acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,002 shares of the financial services provider’s stock, valued at approximately $11,325,000. Ameriprise Financial makes up about 2.4% of Monument Capital Management’s investment portfolio, making the stock its 3rd largest position.

Several other hedge funds also recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. increased its holdings in Ameriprise Financial by 1,367.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 388,012 shares of the financial services provider’s stock worth $191,038,000 after buying an additional 361,575 shares during the last quarter. Dorato Capital Management raised its holdings in Ameriprise Financial by 54.1% during the third quarter. Dorato Capital Management now owns 1,595 shares of the financial services provider’s stock valued at $785,000 after buying an additional 560 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Ameriprise Financial by 4,588.6% in the third quarter. Farther Finance Advisors LLC now owns 114,824 shares of the financial services provider’s stock worth $56,534,000 after buying an additional 112,375 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of Ameriprise Financial by 1,901.6% in the third quarter. CoreCap Advisors LLC now owns 1,281 shares of the financial services provider’s stock worth $631,000 after buying an additional 1,217 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth about $925,211,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Dawn M. Brockman sold 472 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Williams sold 8,210 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were 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 of the company’s stock, valued at approximately $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,988 shares of company stock valued at $16,316,497 over the last ninety days. 0.60% of the stock is owned by insiders.

Ameriprise Financial Trading Up 1.7%

Ameriprise Financial stock opened at $498.80 on Friday. 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 business’s 50-day simple moving average is $540.34 and its 200-day simple moving average is $495.47. The firm has a market capitalization of $44.84 billion, a PE ratio of 12.03, a PEG ratio of 1.01 and a beta of 1.16. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56.

Ameriprise Financial (NYSE:AMP – Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.11 EPS. Equities 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 initiated a stock repurchase program on Tuesday, September 29th that authorizes the company to buyback $5.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued a dividend of $1.70 per share. 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 payout ratio is 16.40%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 3rd. Morgan Stanley boosted their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Bank of America reiterated a “buy” rating and set a $570.00 price target on shares of Ameriprise Financial in a report on Monday. Finally, Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $558.67.

Check Out Our Latest Stock Report on AMP

Ameriprise Financial Company Profile

(Free Report)

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.

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