Is Ameriprise Financial Inc. (NYSE: AMP) Back In The Buying Zone?

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BlackRock Fund Advisors recently announced the acquisition of new stake in Ameriprise Financial Inc. (NYSE:AMP). The institutional investor has increased its shareholding in the Financial company by 1.90% to 7.11 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 5.81% valued currently at $995.81 million. In addition, Aristotle Capital Management LLC raised its holdings by 0.23 million to 4.71 million shares. And JPMorgan Investment Management, I… has lifted its position by 0.91% or 34383.0 shares – to 3.82 million shares.

With over 0.75 million Ameriprise Financial Inc. (AMP) shares trading Monday and a closing price of $147.99 on the day, the dollar volume was approximately $110.64 million. The shares have shown a negative weekly performance of -1.47% and its price on 07/13/20 lost nearly -0.40%. Currently, there are 126.40M common shares owned by the public and among those 122.03M shares have been available to trade.

Incidentally, analysts’ outlook for the Ameriprise Financial Inc. stock is 1.80 for the next 12 months.

Insiders at the company have transacted a total of 92 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 557,407 shares. Insider sales of the common stock occurred on 65 occasions, with total insider shares sold totaling 639,592 shares.

The top 3 mutual fund holders in Ameriprise Financial Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Government Pension Fund – Global. Vanguard Total Stock Market Index owns 3.65 million shares of the company’s stock, all valued at over $511.9 million. The company sold 17967.0 shares recently to bring their total holdings to about 2.99% of the shares outstanding. Vanguard 500 Index Fund sold 3776.0 shares to see its total holdings shrink to 2.59 million shares valued at over $362.47 million and representing 2.12% of the shares outstanding. Government Pension Fund – Global sold -3.99 million shares to bring its total holdings to over 1.85 million shares at a value of $258.83 million. Government Pension Fund – Global now owns shares totaling to 1.51% of the shares outstanding.

Shares of Ameriprise Financial Inc. (NYSE: AMP) opened at $150.22, up $1.64 from a prior closing price of $148.58. However, the script later closed the day at $147.99, down -0.40%. The company’s stock has a 5-day price change of -1.47% and 28.78% over the past three months. AMP shares are trading -11.16% year to date (YTD), with the 12-month market performance down to -2.08% lower. It has a 12-month low price of $80.01 and touched a high of $180.85 over the same period. Currently, 0.75 million shares have been traded, compared to an average intraday trading volume of 1.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.13%, 6.20%, and 2.79% respectively.

Institutional ownership of Ameriprise Financial Inc. (NYSE: AMP) shares accounts for 87.10% of the company’s 126.40M shares outstanding. Mutual fund holders own 39.53%, while other institutional holders and individual stakeholders account for 47.03% and 20.27% respectively.

It has a market capitalization of $17.46B and a beta (3y monthly) value of 1.84. The stock’s trailing 12-month PE ratio is 5.48, while the earnings-per-share (ttm) stands at $27.01. The company has a PEG of 0.47 and the debt-to-equity ratio at 3.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.05% over the week and 3.79% over the month.

Analysts forecast that Ameriprise Financial Inc. (AMP) will achieve an EPS of $3.28 for the current quarter, $3.93 for the next quarter and $17.32 for 2021. The lowest estimate earnings-per-share for the quarter is $2.17 while analysts give the company a high EPS estimate of $3.86. Comparatively, EPS for the current quarter was $4.06 a year ago. Earnings per share for the fiscal year are expected to decrease by -1.90%, and 5.83% over the next financial year. EPS should grow at an annualized rate of 11.56% over the next five years, compared to 10.90% over the past 5-year period.

Looking at the support for the AMP, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on June 25, 2020, with the firm’s price target at $125-$185. Morgan Stanley coverage for the Ameriprise Financial Inc. (AMP) stock in a research note released on January 07, 2020 offered a Equal-Weight rating with a price target of $175. RBC Capital Mkts was of a view on January 03, 2020 that the stock is Outperform, while Credit Suisse gave the stock Outperform rating on May 13, 2019, issuing a price target of $145- $202. Barclays on their part issued Overweight rating on January 09, 2019.

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