Ameriprise Financial, Inc. $AMP Shares Sold by Stephens Inc. AR

Stephens Inc. AR lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 18.0% during the second quarter, Holdings Channel reports. The fund owned 1,781 shares of the financial services provider’s stock after selling 391 shares during the quarter. Stephens Inc. AR’s holdings in Ameriprise Financial were worth $951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC increased its stake in shares of Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares during the period. TD Capital Management LLC grew its position in Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in Ameriprise Financial during the first quarter valued at $29,000. WPG Advisers LLC acquired a new stake in Ameriprise Financial during the first quarter valued at $33,000. Finally, Hager Investment Management Services LLC grew its position in Ameriprise Financial by 114.3% during the second quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of several analyst reports. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Piper Sandler raised their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. Evercore ISI dropped their price target on shares of 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. Morgan Stanley dropped their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Finally, BMO Capital Markets began coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $539.50.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 0.2%

Shares of NYSE AMP opened at $478.90 on Friday. The company’s 50-day simple moving average is $494.36 and its 200-day simple moving average is $502.31. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The firm has a market cap of $45.15 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.

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

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.