Mount Yale Investment Advisors LLC Trims Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Mount Yale Investment Advisors LLC lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,275 shares of the financial services provider’s stock after selling 185 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Ameriprise Financial were worth $1,826,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Portside Wealth Group LLC raised its position in shares of Ameriprise Financial by 3.7% during the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after buying an additional 25 shares in the last quarter. Signaturefd LLC lifted its stake in Ameriprise Financial by 1.1% during the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 26 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Ameriprise Financial by 0.7% during the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock worth $1,606,000 after purchasing an additional 26 shares during the last quarter. Aua Capital Management LLC boosted its holdings in shares of Ameriprise Financial by 4.7% in the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 27 shares in the last quarter. Finally, Gratus Wealth Advisors LLC increased its position in shares of Ameriprise Financial by 1.5% during the 1st quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.7 %

NYSE AMP opened at $460.61 on Monday. The business’s 50-day moving average is $430.15 and its 200 day moving average is $428.68. The stock has a market capitalization of $45.75 billion, a PE ratio of 15.68, a PEG ratio of 0.75 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $465.82.

Ameriprise Financial (NYSE:AMP) last posted its 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. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the firm earned $7.44 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.29%. Ameriprise Financial’s dividend payout ratio is 20.15%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. UBS Group decreased their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Piper Sandler decreased their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Finally, Jefferies Financial Group increased their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $464.33.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the stock in a transaction dated 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 of the company’s stock, valued at $5,834,881.93. The transaction was disclosed in a legal filing with the SEC, which is available 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.