Vest Financial LLC Trims Holdings in Ameriprise Financial, Inc. $AMP

Vest Financial LLC decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 30.6% during the second quarter, HoldingsChannel.com reports. The firm owned 40,355 shares of the financial services provider’s stock after selling 17,776 shares during the quarter. Vest Financial LLC’s holdings in Ameriprise Financial were worth $21,539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new position in shares of Ameriprise Financial during the 1st quarter worth $29,000. TD Capital Management LLC grew its position in shares of Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after buying an additional 51 shares in the last quarter. WPG Advisers LLC bought a new position in shares of Ameriprise Financial during the 1st quarter worth $33,000. Opal Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the 1st quarter worth $36,000. Finally, Hager Investment Management Services LLC grew its position in shares of Ameriprise Financial by 114.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock worth $40,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Evercore ISI dropped their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Royal Bank Of Canada raised their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Piper Sandler raised their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. Finally, Morgan Stanley dropped their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $539.50.

Ameriprise Financial Trading Up 0.5%

Ameriprise Financial stock opened at $482.04 on Tuesday. The stock has a 50-day moving average of $499.90 and a two-hundred day moving average of $501.72. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The stock has a market cap of $45.44 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the business posted $8.72 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is 19.91%.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.