Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,776 shares of the financial services provider’s stock after selling 1,210 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Ameriprise Financial were worth $3,653,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AMP. JPMorgan Chase & Co. raised its stake in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. Swedbank AB acquired a new position in shares of Ameriprise Financial in the first quarter valued at approximately $108,938,000. Maj Invest Holding A S purchased a new position in shares of Ameriprise Financial during the third quarter valued at approximately $98,742,000. AGF Management Ltd. boosted its position in Ameriprise Financial by 35.4% during the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after acquiring an additional 131,844 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in Ameriprise Financial by 18.8% in the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after acquiring an additional 111,973 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $523.16 on Friday. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $524.89. The firm has a market capitalization of $51.96 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 0.81 and a beta of 1.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm’s fifty day simple moving average is $457.59 and its 200 day simple moving average is $437.23.

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

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday. Royal Bank of Canada increased their price target on shares of Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, UBS Group increased their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $480.44.

Insider Activity

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.