Private Client Services LLC Sells 22 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Private Client Services LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 476 shares of the financial services provider’s stock after selling 22 shares during the period. Private Client Services LLC’s holdings in Ameriprise Financial were worth $224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC lifted its stake in Ameriprise Financial by 65.0% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 2,168 shares of the financial services provider’s stock worth $823,000 after acquiring an additional 854 shares during the period. Tower Research Capital LLC TRC increased its stake in Ameriprise Financial by 199.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,535 shares of the financial services provider’s stock valued at $5,141,000 after buying an additional 9,009 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Ameriprise Financial by 2.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 5,022 shares of the financial services provider’s stock valued at $1,908,000 after purchasing an additional 121 shares during the period. Cetera Advisor Networks LLC increased its holdings in shares of Ameriprise Financial by 29.7% in the fourth quarter. Cetera Advisor Networks LLC now owns 16,259 shares of the financial services provider’s stock valued at $6,176,000 after buying an additional 3,724 shares in the last quarter. Finally, Cibc World Markets Corp grew its stake in shares of Ameriprise Financial by 42.6% in the 4th quarter. Cibc World Markets Corp now owns 23,508 shares of the financial services provider’s stock valued at $8,929,000 after purchasing an additional 7,026 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMP. UBS Group lowered their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Jefferies Financial Group raised their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Finally, Piper Sandler reduced their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $463.00.

Ameriprise Financial Trading Up 1.5 %

AMP stock traded up $7.40 during midday trading on Friday, hitting $486.94. 451,871 shares of the company’s stock were exchanged, compared to its average volume of 477,304. The stock has a market capitalization of $48.37 billion, a PE ratio of 16.57, a P/E/G ratio of 0.80 and a beta of 1.35. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $490.23. The business has a 50-day simple moving average of $439.00 and a two-hundred day simple moving average of $432.38. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business earned $7.44 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.22%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insider Buying and Selling

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

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.