One Way Holdings LLC Acquires New Position in Ameriprise Financial, Inc. $AMP

One Way Holdings LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,472 shares of the financial services provider’s stock, valued at approximately $14,018,000.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Ameriprise Financial by 1,279.7% during the 2nd quarter. State Street Corp now owns 63,365,362 shares of the financial services provider’s stock valued at $29,069,493,000 after acquiring an additional 58,772,775 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Ameriprise Financial by 960.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider’s stock worth $1,537,817,000 after acquiring an additional 3,036,128 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Ameriprise Financial by 980.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,069,740 shares of the financial services provider’s stock worth $1,019,036,000 after acquiring an additional 1,878,244 shares during the last quarter. Artemis Investment Management LLP acquired a new position in shares of Ameriprise Financial in the 3rd quarter worth $925,211,000. Finally, Douglas Lane & Associates LLC acquired a new position in shares of Ameriprise Financial in the 3rd quarter worth $575,767,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $491.18 on Monday. The stock has a market cap of $44.16 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.05 and a beta of 1.13. The business has a fifty day simple moving average of $519.56 and a 200-day simple moving average of $492.98. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 29th. The financial services provider reported $11.26 earnings per share for the quarter, missing the consensus estimate of $11.77 by ($0.51). The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Ameriprise Financial had a net margin of 20.99% and a return on equity of 69.94%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $9.92 EPS. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.08 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 9th will be paid a $1.70 dividend. The ex-dividend date is Monday, November 9th. This represents a $6.80 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial’s payout ratio is 15.30%.

Ameriprise Financial announced that its Board of Directors has initiated a share buyback program on Tuesday, September 29th that allows the company to repurchase $5.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada increased their price target on Ameriprise Financial from $560.00 to $595.00 in a research report on Friday, July 24th. BMO Capital Markets reduced their price objective on shares of Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating for the company in a research note on Tuesday, October 6th. The Goldman Sachs Group decreased their target price on shares of Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. Jefferies Financial Group decreased their target price on shares of Ameriprise Financial from $645.00 to $638.00 in a report on Monday, October 12th. Finally, Raymond James Financial lifted their target price on shares of Ameriprise Financial from $582.00 to $638.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $557.00.

Insider Transactions at Ameriprise Financial

In related news, EVP Deirdre Mcgraw sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the sale, the executive vice president 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 713 shares of the company’s stock, valued at $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

About Ameriprise Financial

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.