Elevation Point Wealth Partners LLC Decreases Stock Holdings in Ameriprise Financial, Inc. $AMP

Elevation Point Wealth Partners LLC reduced its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 34.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,245 shares of the financial services provider’s stock after selling 1,199 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Ameriprise Financial were worth $1,103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AMP. CreativeOne Wealth LLC grew its stake in Ameriprise Financial by 2.3% in the 2nd quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 21 shares during the period. Rexford Capital Inc. raised its stake in shares of Ameriprise Financial by 20.6% during the 3rd quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 21 shares during the period. Dakota Community Bank & Trust NA boosted its holdings in shares of Ameriprise Financial by 2.4% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 942 shares of the financial services provider’s stock worth $463,000 after buying an additional 22 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Ameriprise Financial by 0.8% in the 3rd quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock worth $1,504,000 after buying an additional 23 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Ameriprise Financial by 5.4% during the second quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock valued at $239,000 after buying an additional 23 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMP. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their target price for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Trading Down 0.8%

Shares of Ameriprise Financial stock opened at $438.44 on Tuesday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18. The stock’s 50-day simple moving average is $490.18 and its 200 day simple moving average is $484.16. The stock has a market capitalization of $39.98 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $9.54 earnings per share. As a group, research analysts anticipate 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 Friday, February 27th. Investors of record on Monday, February 9th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares of the company’s stock, valued at $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,658 shares of company stock valued at $8,998,675. Company insiders own 0.57% 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.