Ferguson Wellman Capital Management Inc. Sells 16,662 Shares of Ameriprise Financial, Inc. $AMP

Ferguson Wellman Capital Management Inc. decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 28.2% during the first quarter, Holdings Channel.com reports. The fund owned 42,414 shares of the financial services provider’s stock after selling 16,662 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Ameriprise Financial were worth $18,849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AMP. SouthState Bank Corp boosted its stake in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 22 shares during the period. Holos Integrated Wealth LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at approximately $30,000. Ares Financial Consulting LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $32,000. Prosperity Bancshares Inc purchased a new position in shares of Ameriprise Financial in the fourth quarter worth $33,000. Finally, Evolution Wealth Management Inc. purchased a new position in shares of Ameriprise Financial in the first quarter worth $34,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded up $7.53 during trading hours on Friday, reaching $507.69. The company’s stock had a trading volume of 456,166 shares, compared to its average volume of 755,899. The firm has a 50 day moving average price of $464.92 and a 200-day moving average price of $472.97. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $45.64 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.05 and a beta of 1.16. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $9.50 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts predict that Ameriprise Financial, Inc. will post 43.5 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a $1.70 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.91%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AMP. Piper Sandler raised their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Morgan Stanley increased their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday. Finally, BMO Capital Markets upped their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $548.44.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. The trade was a 50.61% 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, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the sale, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. This trade represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% 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.