Allstate Corp Makes New Investment in Ameriprise Financial, Inc. $AMP

Allstate Corp purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,782 shares of the financial services provider’s stock, valued at approximately $1,858,000.

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

Ameriprise Financial Stock Performance

AMP opened at $492.37 on Wednesday. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The firm has a market capitalization of $45.75 billion, a PE ratio of 13.50, a PEG ratio of 1.32 and a beta of 1.26. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88. The firm’s 50-day moving average price is $482.31 and its 200 day moving average price is $493.33.

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

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, November 10th. Ameriprise Financial’s dividend payout ratio is presently 17.55%.

Analyst Ratings Changes

A number of equities analysts have issued reports on AMP shares. Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Evercore ISI reduced their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. BMO Capital Markets began coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. Finally, Argus decreased their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $528.75.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the transaction, the director owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. The trade was a 16.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

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.