Ameriprise Financial, Inc. $AMP Shares Sold by Private Wealth Asset Management LLC

Private Wealth Asset Management LLC reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 40.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 878 shares of the financial services provider’s stock after selling 600 shares during the period. Private Wealth Asset Management LLC’s holdings in Ameriprise Financial were worth $469,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMP. GAMMA Investing LLC boosted its stake in shares of Ameriprise Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $2,114,000 after buying an additional 83 shares during the last quarter. NorthRock Partners LLC lifted its holdings in Ameriprise Financial by 8.9% in the second quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock valued at $5,847,000 after acquiring an additional 897 shares during the period. Spire Wealth Management boosted its position in Ameriprise Financial by 91.6% in the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider’s stock worth $692,000 after purchasing an additional 683 shares in the last quarter. Ascent Group LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $371,000. Finally, Advisory Alpha LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $265,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Raymond James Financial boosted their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. Royal Bank Of Canada upped their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Morgan Stanley lowered their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Evercore ISI dropped their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $539.50.

Insider Buying and Selling

In related news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% 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 the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 1.0%

Shares of NYSE AMP opened at $481.48 on Thursday. The firm has a market cap of $45.39 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.09 and a beta of 1.26. The company’s 50-day simple moving average is $499.00 and its 200-day simple moving average is $501.48. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the firm earned $8.72 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is currently 19.91%.

About Ameriprise Financial

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.