Envestnet Portfolio Solutions Inc. Sells 848 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Envestnet Portfolio Solutions Inc. decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,531 shares of the financial services provider’s stock after selling 848 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Ameriprise Financial were worth $13,470,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after acquiring an additional 603,267 shares during the last quarter. Norges Bank acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $514,539,000. Dimensional Fund Advisors LP grew its holdings in shares of Ameriprise Financial by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock valued at $385,620,000 after acquiring an additional 35,931 shares in the last quarter. TD Asset Management Inc increased its position in shares of Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after acquiring an additional 111,973 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Ameriprise Financial by 5.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock valued at $247,786,000 after purchasing an additional 32,312 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of several recent analyst reports. 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 research report on Tuesday, July 30th. UBS Group dropped their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Argus upped their target price on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Morgan Stanley cut 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 report on Monday, July 29th. Finally, Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Price Performance

Shares of AMP stock traded up $5.13 on Thursday, reaching $425.00. The company had a trading volume of 159,148 shares, compared to its average volume of 487,380. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $449.94. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $42.21 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The business’s 50-day moving average is $425.91 and its 200 day moving average is $420.57.

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 73.83% and a net margin of 18.64%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.44 EPS. Equities research analysts forecast that Ameriprise Financial, Inc. will post 34.77 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Ameriprise Financial Company 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.