Ameriprise Financial, Inc. $AMP Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 5.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,896 shares of the financial services provider’s stock after selling 910 shares during the quarter. NewEdge Advisors LLC’s holdings in Ameriprise Financial were worth $7,064,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. SouthState Bank Corp grew its position in 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. Cassaday & Co Wealth Management LLC purchased a new stake in Ameriprise Financial in the first quarter valued at $28,000. Ares Financial Consulting LLC purchased a new stake in Ameriprise Financial in the fourth quarter valued at $32,000. Prosperity Bancshares Inc acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $33,000. Finally, Evolution Wealth Management Inc. purchased a new position in shares of Ameriprise Financial during the 1st quarter worth $34,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.9%

Shares of Ameriprise Financial stock opened at $557.14 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $565.05. The company has a market capitalization of $50.09 billion, a P/E ratio of 13.44, a P/E/G ratio of 0.74 and a beta of 1.14. The business has a 50 day moving average price of $497.62 and a 200 day moving average price of $478.31.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.Ameriprise Financial’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.11 EPS. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.40%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider William Jerryl Williams sold 8,210 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the transaction, the insider directly owned 6,780 shares of the company’s stock, valued at $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the transaction, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 35,771 shares of company stock worth $19,008,295. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler raised their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Jefferies Financial Group upped their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

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.