RFG Advisory LLC Reduces Holdings in Ameriprise Financial, Inc. $AMP

RFG Advisory LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 79.9% in the 2nd quarter, Holdings Channel reports. The firm owned 796 shares of the financial services provider’s stock after selling 3,159 shares during the period. RFG Advisory LLC’s holdings in Ameriprise Financial were worth $365,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Essex Financial Services Inc. increased its holdings in shares of Ameriprise Financial by 2.4% in the 4th quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 21 shares during the period. SouthState Bank Corp grew its position in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares during the last quarter. SlateStone Wealth LLC grew its position in Ameriprise Financial by 3.8% during the 4th quarter. SlateStone Wealth LLC now owns 657 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 24 shares during the last quarter. Rexford Capital Inc. increased its stake in Ameriprise Financial by 19.5% in the first quarter. Rexford Capital Inc. now owns 147 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 24 shares during the period. Finally, North Dakota State Investment Board increased its stake in Ameriprise Financial by 0.9% in the second quarter. North Dakota State Investment Board now owns 2,716 shares of the financial services provider’s stock valued at $1,246,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of several recent research reports. Piper Sandler increased their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Jefferies Financial Group boosted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $555.33.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $558.52 on Tuesday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The company has a 50-day moving average price of $545.64 and a 200 day moving average price of $488.72. The company has a market cap of $50.21 billion, a P/E ratio of 13.47, a PEG ratio of 1.00 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the firm posted $9.11 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. Research analysts predict that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio is presently 16.40%.

Insider Buying and Selling

In other Ameriprise Financial news, SVP Dawn Brockman sold 472 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares of the company’s stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Deirdre Mcgraw sold 2,400 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc (NYSE: AMP) is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.

The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.