First Horizon Corp Acquires New Stake in Ameriprise Financial, Inc. $AMP

First Horizon Corp bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 2,959 shares of the financial services provider’s stock, valued at approximately $1,454,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC grew its holdings in shares of Ameriprise Financial by 71.0% in the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 22 shares in the last quarter. Salomon & Ludwin LLC grew its stake in shares of Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares in the last quarter. Winnow Wealth LLC purchased a new position in Ameriprise Financial in the second quarter worth approximately $32,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at $32,000. Finally, WFA of San Diego LLC purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth $36,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Up 0.5%

NYSE AMP opened at $510.37 on Tuesday. The company has a market cap of $47.42 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.26 and a beta of 1.26. The company has a 50-day moving average of $476.98 and a 200-day moving average of $494.79. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period last year, the business posted $9.02 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.55%.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the transaction, the director directly owned 7,500 shares in the company, valued at $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMP. Argus decreased their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Royal Bank Of Canada decreased their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Morgan Stanley lifted their target price on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. Finally, BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $528.75.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.