Red Cedar Investment Management LLC Sells 1,808 Shares of Ameriprise Financial, Inc. $AMP

Red Cedar Investment Management LLC reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,714 shares of the financial services provider’s stock after selling 1,808 shares during the period. Red Cedar Investment Management LLC’s holdings in Ameriprise Financial were worth $4,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC increased its position in Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 22 shares in the last quarter. Salomon & Ludwin LLC grew its position in shares of Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares during the period. Winnow Wealth LLC acquired a new position in Ameriprise Financial during the second quarter valued at approximately $32,000. Heartwood Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the third quarter worth $32,000. Finally, WFA of San Diego LLC bought a new position in shares of Ameriprise Financial during the second quarter worth $36,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.8%

NYSE:AMP opened at $500.36 on Tuesday. The company has a market cap of $46.49 billion, a PE ratio of 13.72, a P/E/G ratio of 1.28 and a beta of 1.26. The firm’s 50 day simple moving average is $485.90 and its 200 day simple moving average is $492.29. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05.

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

Ameriprise Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on AMP shares. Argus dropped their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Royal Bank Of Canada decreased their target price 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 started coverage on Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Finally, Evercore ISI cut their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $528.75.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s 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 sale, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. The trade was a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

Ameriprise Financial Profile

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.