Cwm LLC Has $3.13 Million Position in Ameriprise Financial, Inc. $AMP

Cwm LLC reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 7.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 5,856 shares of the financial services provider’s stock after selling 497 shares during the quarter. Cwm LLC’s holdings in Ameriprise Financial were worth $3,126,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Trust Co. of Vermont grew its position in shares of Ameriprise Financial by 0.6% in the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after purchasing an additional 19 shares during the last quarter. Plancorp LLC grew its position in shares of Ameriprise Financial by 4.8% in the first quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 20 shares during the last quarter. Old Port Advisors grew its position in shares of Ameriprise Financial by 1.5% in the second quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 20 shares during the last quarter. Pinnacle Associates Ltd. grew its position in shares of Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 21 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Ameriprise Financial by 3.0% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 21 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.5%

NYSE AMP opened at $470.03 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average is $497.70 and its two-hundred day moving average is $501.23. The company has a market capitalization of $44.31 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.05 and a beta of 1.26. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05.

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

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders 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 dividend yield of 1.4%. Ameriprise Financial’s payout ratio is 19.91%.

Insider Buying and Selling

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The shares were 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 owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction 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 $5,599,613.83. This trade represents a 47.34% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMP shares. Royal Bank Of Canada lifted their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Piper Sandler lifted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. Raymond James Financial lifted their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. Evercore ISI decreased their target price 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. Finally, Keefe, Bruyette & Woods lifted their target price 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. One research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $539.50.

Ameriprise Financial Company 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.