Ameriprise Financial, Inc. $AMP Position Reduced by Edmp Inc.

Edmp Inc. cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,007 shares of the financial services provider’s stock after selling 204 shares during the quarter. Ameriprise Financial makes up approximately 3.6% of Edmp Inc.’s portfolio, making the stock its 8th largest holding. Edmp Inc.’s holdings in Ameriprise Financial were worth $4,273,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Wealth Preservation Advisors LLC bought a new position in shares of Ameriprise Financial in the first quarter worth $29,000. TD Capital Management LLC raised its stake in Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. WPG Advisers LLC purchased a new stake in Ameriprise Financial in the first quarter valued at approximately $33,000. Opal Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the first quarter valued at approximately $36,000. Finally, Hager Investment Management Services LLC raised its stake in Ameriprise Financial by 114.3% in the second quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 40 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Transactions at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the business’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 directly 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. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMP shares. BMO Capital Markets started coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Piper Sandler increased 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. Finally, William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned 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 a consensus rating of “Hold” and a consensus price target of $539.50.

Ameriprise Financial Stock Up 0.5%

Shares of Ameriprise Financial stock opened at $482.04 on Tuesday. The company’s 50 day moving average price is $499.90 and its 200-day moving average price is $501.72. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The stock has a market capitalization of $45.44 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 1.08 and a beta of 1.26. 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 (NYSE:AMP) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping 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 analyst estimates of $4.33 billion. During the same quarter last year, the firm posted $8.72 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

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

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.