Ameriprise Financial, Inc. $AMP Stock Holdings Lowered by Harfst & Associates Inc.

Harfst & Associates Inc. cut its position in Ameriprise Financial, Inc. (NYSE:AMP) by 10.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,380 shares of the financial services provider’s stock after selling 492 shares during the quarter. Harfst & Associates Inc.’s holdings in Ameriprise Financial were worth $2,338,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC boosted its position in Ameriprise Financial by 4.2% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 16,735 shares of the financial services provider’s stock worth $8,932,000 after acquiring an additional 667 shares during the period. NorthRock Partners LLC grew its position in Ameriprise Financial by 8.9% in the 2nd quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock valued at $5,847,000 after buying an additional 897 shares in the last quarter. Ascent Group LLC bought a new position in shares of Ameriprise Financial in the first quarter valued at approximately $371,000. Advisory Alpha LLC acquired a new stake in Ameriprise Financial in the first quarter worth approximately $265,000. Finally, Voya Investment Management LLC lifted its position in Ameriprise Financial by 4.0% in the first quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock worth $53,731,000 after purchasing an additional 4,232 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $453.56 on Thursday. The business has a fifty day simple moving average of $473.07 and a 200 day simple moving average of $500.71. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The firm has a market cap of $42.14 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 1.07 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.02 EPS. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, November 10th. Ameriprise Financial’s payout ratio is presently 17.55%.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AMP. BMO Capital Markets started coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective on the stock. Evercore ISI cut 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. Morgan Stanley decreased their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods decreased their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Finally, Argus cut their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $533.22.

About Ameriprise Financial

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.