West Oak Capital LLC Cuts Position in Ameriprise Financial, Inc. (NYSE:AMP)

West Oak Capital LLC lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 450 shares of the financial services provider’s stock after selling 60 shares during the quarter. West Oak Capital LLC’s holdings in Ameriprise Financial were worth $211,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Retirement Group LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter valued at $25,000. DiNuzzo Private Wealth Inc. grew its holdings in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc purchased a new stake in Ameriprise Financial during the 2nd quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial in the 1st quarter worth $28,000. Finally, Mascoma Wealth Management LLC boosted its position in Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.3 %

NYSE:AMP opened at $523.16 on Friday. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $524.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The business has a 50 day simple moving average of $457.59 and a 200 day simple moving average of $437.20. The firm has a market capitalization of $51.96 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.44 earnings per share. Equities research analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.13%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Analysts Set New Price Targets

Several research analysts recently commented on AMP shares. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada increased their target price on Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Piper Sandler decreased their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. UBS Group upped their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley increased their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $480.44.

Insider Activity

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Profile

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