Ameriprise Financial, Inc. $AMP Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,762 shares of the financial services provider’s stock after selling 1,055 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Ameriprise Financial were worth $9,480,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AMP. Wealth Preservation Advisors LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at about $29,000. TD Capital Management LLC lifted its stake in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. WPG Advisers LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at about $33,000. Opal Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at about $36,000. Finally, Hager Investment Management Services LLC lifted its stake in shares of Ameriprise Financial by 114.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 40 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial 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 sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Ameriprise Financial Price Performance

AMP stock opened at $482.04 on Tuesday. 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. The stock’s 50 day moving average is $499.90 and its two-hundred day moving average is $501.72. The company has a market capitalization of $45.44 billion, a PE ratio of 15.00, a P/E/G ratio of 1.08 and a beta of 1.26.

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

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial’s payout ratio is currently 19.91%.

Analysts Set New Price Targets

AMP has been the topic of several recent research reports. Royal Bank Of Canada boosted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. BMO Capital Markets initiated coverage on Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target on the stock. Piper Sandler boosted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $539.50.

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.