Ameriprise Financial, Inc. $AMP Shares Acquired by Courier Capital LLC

Courier Capital LLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 52.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,960 shares of the financial services provider’s stock after buying an additional 1,715 shares during the quarter. Courier Capital LLC’s holdings in Ameriprise Financial were worth $2,442,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. First County Bank CT lifted its stake in Ameriprise Financial by 660.7% in the third quarter. First County Bank CT now owns 12,529 shares of the financial services provider’s stock worth $6,169,000 after acquiring an additional 10,882 shares during the period. Fragasso Financial Advisors Inc bought a new position in Ameriprise Financial during the 3rd quarter worth about $209,000. NorthCrest Asset Manangement LLC grew its holdings in Ameriprise Financial by 85.8% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 10,423 shares of the financial services provider’s stock worth $5,132,000 after acquiring an additional 4,812 shares in the last quarter. Avior Wealth Management LLC increased its position in Ameriprise Financial by 869.5% during the 3rd quarter. Avior Wealth Management LLC now owns 9,443 shares of the financial services provider’s stock valued at $4,649,000 after purchasing an additional 8,469 shares during the period. Finally, Perpetual Ltd purchased a new position in Ameriprise Financial during the 3rd quarter valued at about $242,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada boosted their price target on shares of Ameriprise Financial from $560.00 to $595.00 in a report on Friday, July 24th. Jefferies Financial Group dropped their price objective on shares of Ameriprise Financial from $645.00 to $638.00 in a research note on Monday. Argus lifted their price objective on shares of Ameriprise Financial from $534.00 to $590.00 and gave the company a “buy” rating in a report on Friday, July 31st. The Goldman Sachs Group cut their price objective on shares of Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Moderate Buy” and a consensus price target of $572.55.

Ameriprise Financial Stock Down 1.4%

Shares of NYSE AMP traded down $6.99 during mid-day trading on Tuesday, reaching $493.03. 420,778 shares of the company were exchanged, compared to its average volume of 641,015. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The stock has a market cap of $44.32 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 1.03 and a beta of 1.16. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The firm has a 50-day moving average of $538.37 and a 200 day moving average of $496.25.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data 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. 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 the consensus estimate of $4.87 billion. During the same quarter last year, the company earned $9.11 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts expect that Ameriprise Financial, Inc. will post 46.17 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were given a dividend of $1.70 per share. 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 is presently 16.40%.

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

Insider Activity

In other news, CFO Walter Berman sold 11,012 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the sale, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dawn Brockman sold 472 shares of the firm’s stock in a transaction dated 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 in the company, valued at $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 29,988 shares of company stock valued at $16,316,497. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Company 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.