OneAscent Financial Services LLC Increases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)


Share on StockTwits

OneAscent Financial Services LLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,829 shares of the financial services provider’s stock after purchasing an additional 307 shares during the quarter. OneAscent Financial Services LLC’s holdings in Ameriprise Financial were worth $550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arlington Partners LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $25,000. Nachman Norwood & Parrott Inc purchased a new position in Ameriprise Financial in the third quarter valued at approximately $26,000. South State CORP. purchased a new position in shares of Ameriprise Financial during the third quarter worth approximately $26,000. Provident Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the third quarter worth approximately $32,000. Finally, WASHINGTON TRUST Co grew its position in shares of Ameriprise Financial by 1,200.0% during the third quarter. WASHINGTON TRUST Co now owns 260 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 240 shares during the last quarter. 83.05% of the stock is currently owned by institutional investors.

In related news, CEO William F. Truscott sold 21,005 shares of the stock in a transaction that occurred on Monday, November 30th. The stock was sold at an average price of $188.00, for a total transaction of $3,948,940.00. Following the completion of the sale, the chief executive officer now owns 15,798 shares in the company, valued at approximately $2,970,024. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Karen Wilson Thissen sold 620 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $159.22, for a total value of $98,716.40. Following the completion of the sale, the vice president now owns 14,164 shares of the company’s stock, valued at approximately $2,255,192.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,619 shares of company stock valued at $7,392,680. 1.50% of the stock is owned by corporate insiders.

A number of equities research analysts have commented on AMP shares. CSFB reduced their target price on Ameriprise Financial from $200.00 to $194.00 and set an “outperform” rating for the company in a report on Monday, September 28th. BidaskClub upgraded Ameriprise Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, January 5th. Piper Sandler lifted their price target on Ameriprise Financial from $215.00 to $221.00 and gave the company an “overweight” rating in a report on Wednesday, January 6th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $187.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, November 5th. Finally, Credit Suisse Group lifted their price objective on Ameriprise Financial from $194.00 to $227.00 and gave the company an “outperform” rating in a research note on Wednesday, November 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $187.33.

Shares of NYSE:AMP opened at $203.07 on Thursday. The business has a 50 day moving average price of $192.56 and a 200 day moving average price of $168.26. Ameriprise Financial, Inc. has a twelve month low of $80.01 and a twelve month high of $206.15. The company has a market cap of $23.96 billion, a price-to-earnings ratio of 14.55 and a beta of 1.74. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.78.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Monday, November 2nd. The financial services provider reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.17 by $0.10. Ameriprise Financial had a return on equity of 33.79% and a net margin of 15.16%. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.99 billion. Analysts anticipate that Ameriprise Financial, Inc. will post 13.99 EPS for the current year.

Ameriprise Financial declared that its board has approved a stock buyback program on Tuesday, September 29th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Ameriprise Financial Profile

Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.

Recommended Story: What does cost of debt say about a company’s financial health?

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP).

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.