Yousif Capital Management LLC Cuts Holdings in Ameriprise Financial, Inc. $AMP

Yousif Capital Management LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,377 shares of the financial services provider’s stock after selling 345 shares during the quarter. Yousif Capital Management LLC’s holdings in Ameriprise Financial were worth $7,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Wealth Preservation Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter valued at about $29,000. TD Capital Management LLC boosted its holdings in Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 51 shares during the last quarter. WPG Advisers LLC purchased a new stake in Ameriprise Financial in the first quarter worth approximately $33,000. Opal Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter worth $36,000. Finally, Hager Investment Management Services LLC boosted its stake in shares of Ameriprise Financial by 114.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock worth $40,000 after buying an additional 40 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This 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 insiders.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $486.58 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The firm’s 50 day simple moving average is $499.54 and its two-hundred day simple moving average is $501.62. The company has a market capitalization of $45.87 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.08 and a beta of 1.26.

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

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given 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 payout ratio is presently 19.91%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMP shares. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Piper Sandler raised their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Raymond James Financial raised their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Morgan Stanley dropped their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a report on Wednesday, October 1st. Finally, Royal Bank Of Canada lifted their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $539.50.

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.