Moran Wealth Management LLC Reduces Stock Holdings in Ameriprise Financial, Inc. $AMP

Moran Wealth Management LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,282 shares of the financial services provider’s stock after selling 8,711 shares during the quarter. Ameriprise Financial makes up about 1.0% of Moran Wealth Management LLC’s holdings, making the stock its 12th biggest position. Moran Wealth Management LLC’s holdings in Ameriprise Financial were worth $34,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in Ameriprise Financial by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after acquiring an additional 111,386 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ameriprise Financial by 7.7% during the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after purchasing an additional 446,080 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Ameriprise Financial by 1.7% during the second quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock worth $1,500,115,000 after purchasing an additional 47,584 shares during the last quarter. Norges Bank acquired a new stake in shares of Ameriprise Financial during the second quarter worth about $693,736,000. Finally, Boston Partners boosted its position in shares of Ameriprise Financial by 3.1% in the 2nd quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock valued at $629,650,000 after purchasing an additional 35,500 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank Of Canada cut their price target on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. BMO Capital Markets began coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Finally, Evercore ISI decreased their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $528.75.

Ameriprise Financial Stock Performance

Shares of AMP opened at $497.83 on Thursday. The stock has a market capitalization of $46.25 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.27 and a beta of 1.26. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The company’s fifty day moving average is $473.71 and its two-hundred day moving average is $495.31.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter in the previous year, the firm earned $9.02 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s payout ratio is currently 17.55%.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This represents a 16.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.73% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.