CIBC Private Wealth Group LLC Decreases Stock Holdings in Ameriprise Financial, Inc. $AMP

CIBC Private Wealth Group LLC reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.6% in the third quarter, Holdings Channel reports. The fund owned 267,731 shares of the financial services provider’s stock after selling 1,701 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Ameriprise Financial were worth $131,523,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. Winnow Wealth LLC bought a new stake in Ameriprise Financial in the second quarter worth $32,000. Heartwood Wealth Advisors LLC bought a new position in Ameriprise Financial during the third quarter valued at $32,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the 3rd quarter worth $32,000. WFA of San Diego LLC purchased a new position in shares of Ameriprise Financial in the 2nd quarter worth $36,000. Finally, Salomon & Ludwin LLC increased its holdings in shares of Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after buying an additional 43 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

AMP opened at $437.99 on Wednesday. The business has a fifty day moving average of $488.74 and a 200 day moving average of $483.62. The stock has a market cap of $39.94 billion, a P/E ratio of 12.05, a PEG ratio of 1.02 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18.

Ameriprise Financial (NYSE:AMP) last released 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. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the firm posted $9.54 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.60%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMP. 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. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. Jefferies Financial Group upped their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $555.67.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. This trade represents a 29.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock worth $8,998,675 in the last 90 days. 0.57% of the stock is owned by corporate insiders.

Ameriprise Financial Company 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.