Ameriprise Financial, Inc. $AMP Shares Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 97.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,220 shares of the financial services provider’s stock after selling 402,002 shares during the period. Ameriprise Financial makes up about 0.4% of Curated Wealth Partners LLC’s investment portfolio, making the stock its 27th biggest holding. Curated Wealth Partners LLC’s holdings in Ameriprise Financial were worth $4,539,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AMP. State Street Corp raised its position in shares of Ameriprise Financial by 1,279.7% during the second quarter. State Street Corp now owns 63,365,362 shares of the financial services provider’s stock worth $29,069,493,000 after purchasing an additional 58,772,775 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Ameriprise Financial by 960.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider’s stock worth $1,537,817,000 after buying an additional 3,036,128 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Ameriprise Financial during the third quarter worth about $925,211,000. Douglas Lane & Associates LLC acquired a new position in Ameriprise Financial during the third quarter valued at approximately $575,767,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at approximately $530,290,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on AMP shares. Argus lifted their target price on Ameriprise Financial from $534.00 to $590.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Jefferies Financial Group dropped their price target on Ameriprise Financial from $645.00 to $638.00 in a report on Monday. Royal Bank Of Canada raised their price target on shares of Ameriprise Financial from $560.00 to $595.00 in a research report on Friday, July 24th. Keefe, Bruyette & Woods raised their target price 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. Finally, Bank of America restated a “buy” rating and set a $570.00 price objective (down from $616.00) on shares of Ameriprise Financial in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $572.55.

Insider Buying and Selling

In related news, insider William Williams sold 8,210 shares of Ameriprise Financial stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the sale, the insider directly owned 6,780 shares in the company, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Walter Berman sold 11,012 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,988 shares of company stock worth $16,316,497 over the last three months. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Up 0.2%

Shares of AMP traded up $0.74 during trading hours on Thursday, hitting $496.56. 158,107 shares of the stock were exchanged, compared to its average volume of 637,549. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50-day moving average of $535.87 and a 200-day moving average of $496.87. The firm has a market capitalization of $44.64 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 1.01 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping the consensus estimate of $10.81 by $0.26. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $9.11 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 46.14 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were given a $1.70 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

Ameriprise Financial declared that its board has approved a share repurchase plan on Tuesday, September 29th that permits the company to repurchase $5.50 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.

Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.