Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by EP Wealth Advisors LLC

EP Wealth Advisors LLC reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,619 shares of the financial services provider’s stock after selling 29 shares during the period. EP Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $710,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in shares of Ameriprise Financial by 4.8% in the third quarter. Wellington Management Group LLP now owns 5,528 shares of the financial services provider’s stock worth $1,822,000 after acquiring an additional 251 shares during the last quarter. Pacer Advisors Inc. raised its stake in Ameriprise Financial by 23.1% in the 4th quarter. Pacer Advisors Inc. now owns 8,182 shares of the financial services provider’s stock valued at $3,108,000 after purchasing an additional 1,533 shares during the last quarter. WASHINGTON TRUST Co purchased a new position in Ameriprise Financial in the 4th quarter valued at about $57,000. McGlone Suttner Wealth Management Inc. purchased a new position in Ameriprise Financial in the 4th quarter valued at about $128,000. Finally, Blue Trust Inc. boosted its stake in shares of Ameriprise Financial by 42.4% during the 4th quarter. Blue Trust Inc. now owns 537 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.5 %

AMP stock traded down $2.13 during trading on Friday, reaching $439.54. 530,890 shares of the stock traded hands, compared to its average volume of 489,607. The firm has a market capitalization of $43.66 billion, a PE ratio of 15.08, a P/E/G ratio of 0.67 and a beta of 1.37. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50 day moving average price is $431.84 and its 200-day moving average price is $417.28. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $449.94.

Ameriprise Financial (NYSE:AMP) last issued 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. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a return on equity of 75.96% and a net margin of 18.64%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.44 EPS. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.9 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, August 5th. Ameriprise Financial’s payout ratio is currently 20.15%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMP. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler cut their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. UBS Group decreased their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Evercore ISI upped their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley increased their target price on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. 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. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $462.89.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.