Ameriprise Financial, Inc. $AMP Holdings Decreased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.6% in the second quarter, Holdings Channel.com reports. The fund owned 17,762 shares of the financial services provider’s stock after selling 1,055 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Ameriprise Financial were worth $9,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in Ameriprise Financial during the 1st quarter worth $29,000. TD Capital Management LLC grew its stake in 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 during the last quarter. WPG Advisers LLC bought a new position in Ameriprise Financial during the 1st quarter worth $33,000. Opal Wealth Advisors LLC bought a new position in Ameriprise Financial during the 1st quarter worth $36,000. Finally, Hager Investment Management Services LLC grew its stake in 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 during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Up 0.5%

Shares of AMP stock opened at $482.04 on Tuesday. 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 1 year low of $396.14 and a 1 year high of $582.05. The stock has a fifty day moving average of $499.90 and a two-hundred day moving average of $501.72. The firm has a market capitalization 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 announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 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 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.72 EPS. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 19.91%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMP. Piper Sandler upped their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research note on Thursday, July 3rd. Raymond James Financial upped their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Evercore ISI lowered their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. BMO Capital Markets began coverage on Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target for the company. Finally, Morgan Stanley reduced 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. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $539.50.

Insider Buying and Selling at Ameriprise Financial

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

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.