Weaver C. Barksdale & Associates Inc. Cuts Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Weaver C. Barksdale & Associates Inc. trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,216 shares of the financial services provider’s stock after selling 93 shares during the period. Ameriprise Financial accounts for approximately 2.1% of Weaver C. Barksdale & Associates Inc.’s holdings, making the stock its 10th biggest position. Weaver C. Barksdale & Associates Inc.’s holdings in Ameriprise Financial were worth $2,228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AMP. Retirement Group LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter valued at $25,000. DiNuzzo Private Wealth Inc. lifted its stake in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of Ameriprise Financial during the second quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter valued at $28,000. Finally, Mascoma Wealth Management LLC grew its stake in Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analysts Set New Price Targets

AMP has been the subject of several recent analyst reports. Piper Sandler decreased their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group raised their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. 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. Morgan Stanley lowered their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Finally, Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $464.33.

Ameriprise Financial Stock Up 2.7 %

AMP stock opened at $463.73 on Friday. The business has a 50-day simple moving average of $429.87 and a 200 day simple moving average of $428.14. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $464.47. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The company has a market cap of $46.06 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share 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 firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the firm posted $7.44 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side analysts anticipate 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. Stockholders of record on Monday, August 5th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.28%. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

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.