IFP Advisors Inc Has $846,000 Position in Ameriprise Financial, Inc. $AMP

IFP Advisors Inc lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 23.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,481 shares of the financial services provider’s stock after selling 444 shares during the quarter. IFP Advisors Inc’s holdings in Ameriprise Financial were worth $846,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMP. Brighton Jones LLC boosted its stake in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares in the last quarter. GAMMA Investing LLC boosted its stake in Ameriprise Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $2,114,000 after purchasing an additional 83 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Ameriprise Financial by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider’s stock worth $12,055,000 after purchasing an additional 1,433 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Ameriprise Financial in the first quarter worth $36,000. Finally, Ritholtz Wealth Management boosted its stake in Ameriprise Financial by 1.3% in the first quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider’s stock worth $852,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Evercore ISI cut their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Raymond James Financial upped their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. Piper Sandler upped their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Morgan Stanley cut their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Finally, BMO Capital Markets assumed coverage on Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $539.50.

Ameriprise Financial Trading Up 0.5%

NYSE AMP opened at $482.04 on Tuesday. The stock has a 50-day simple moving average of $499.90 and a 200 day simple moving average of $501.72. The company has a market capitalization of $45.44 billion, a PE ratio of 15.00, a P/E/G ratio of 1.08 and a beta of 1.26. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.72 earnings per share. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is 19.91%.

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.