ICA Group Wealth Management LLC Trims Position in Ameriprise Financial, Inc. (NYSE:AMP)

ICA Group Wealth Management LLC trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 27.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100 shares of the financial services provider’s stock after selling 37 shares during the period. ICA Group Wealth Management LLC’s holdings in Ameriprise Financial were worth $43,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Group LLC purchased a new stake in Ameriprise Financial in the first quarter worth $25,000. DiNuzzo Private Wealth Inc. grew its stake in Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares during the period. Accordant Advisory Group Inc purchased a new stake in Ameriprise Financial in the second quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the first quarter worth $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 worth $28,000 after purchasing an additional 40 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 1.2 %

Ameriprise Financial stock opened at $440.39 on Monday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a fifty day moving average of $428.44 and a 200 day moving average of $427.17. The stock has a market cap of $43.74 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $450.35.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 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 73.83% and a net margin of 18.64%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.44 earnings per share. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Insiders Place Their Bets

In other Ameriprise Financial 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 value of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley reduced their price target on 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. Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. UBS Group lowered their price target on 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 upped their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Piper Sandler lowered their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $464.33.

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.