Georgia's 12th congressional district representative, Richard W. Allen, has made notable investments in Ameriprise Financial, Inc. (NYSE:AMP (OTC:AMLTF)) and US Treasury Bills, according to a recent congressional trade report.
Allen purchased Ameriprise Financial, Inc. common stocks within a range of $50,001 to $100,000. The transaction was made on April 9, 2024, and was reported on May 9, 2024.
In addition to the investment in Ameriprise Financial, Inc., Allen also purchased US Treasury Bills. The first purchase, valued between $15,001 and $50,000, was for US Treasury Bill DUE 09/15/25. The transaction took place on April 23, 2024, and was reported on May 9, 2024.
The second purchase of US Treasury Bills, due on March 20, 2025, was made on April 2, 2024. The value of this transaction ranged from $1,001 to $15,000.
These transactions were made through various investment vehicles. The Ameriprise Financial stocks were purchased through R.W. Allen & Associates, Inc., a company in which Allen has a 100% interest. The US Treasury Bills were bought through LIVTR and SCH1.
InvestingPro Insights
Following Representative Richard W. Allen's investment in Ameriprise Financial, Inc. (NYSE:AMP), several InvestingPro Tips highlight the company's financial health and market position. Notably, Ameriprise Financial has a strong history of rewarding its shareholders, having raised its dividend for 19 consecutive years and maintained dividend payments for 20 consecutive years. This consistency in dividend payments may provide a clue into the attractiveness of the stock as a long-term investment.
Analysts have also revised their earnings upwards for the upcoming period, indicating a positive outlook for the company's financial performance. Furthermore, Ameriprise Financial is trading at a low P/E ratio relative to near-term earnings growth, suggesting that the stock may be undervalued compared to its growth potential. The company's current Market Cap stands at $43.64B USD, with a P/E Ratio of 14.6, and an even more attractive adjusted P/E Ratio for the last twelve months as of Q1 2024 at 13.76.
The company's financial stability is also underscored by the fact that its liquid assets exceed short-term obligations, which can reassure investors of its ability to meet immediate financial liabilities. For further insights, there are 11 additional InvestingPro Tips available for Ameriprise Financial, which can be accessed for a deeper analysis of the company's financial standing and market performance. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing an opportunity to leverage professional investment tools and insights.
With its shares trading near the 52-week high and a Price / Book multiple of 8.94 as of Q1 2024, Ameriprise Financial is demonstrating market strength. The company's revenue also grew by 13.91% over the last twelve months as of Q1 2024, showcasing a robust financial trajectory. Investors may find these metrics particularly useful when considering the stock's recent performance and future potential.
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