MQS Management LLC Sells 825 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

MQS Management LLC trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 55.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 673 shares of the financial services provider’s stock after selling 825 shares during the quarter. MQS Management LLC’s holdings in Ameriprise Financial were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Retirement Group LLC bought a new position in Ameriprise Financial during the 1st quarter valued at about $25,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares during the last quarter. Accordant Advisory Group Inc purchased a new stake in shares of Ameriprise Financial in the second quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $28,000. Finally, Mascoma Wealth Management LLC boosted its holdings in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares during the period. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of several research analyst reports. Piper Sandler decreased their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Morgan Stanley reduced their target price on shares of 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. Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Finally, Royal Bank of Canada increased their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $464.33.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the company’s 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 transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 0.7 %

Shares of NYSE AMP opened at $460.61 on Friday. The business has a fifty day moving average price of $430.15 and a 200 day moving average price of $428.48. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $465.82. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $45.75 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35.

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

Ameriprise Financial Announces Dividend

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