Guinness Asset Management LTD Has $818,000 Stock Holdings in Ameriprise Financial, Inc. $AMP

Guinness Asset Management LTD boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.4% in the second quarter, HoldingsChannel reports. The firm owned 1,532 shares of the financial services provider’s stock after purchasing an additional 36 shares during the quarter. Guinness Asset Management LTD’s holdings in Ameriprise Financial were worth $818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Whipplewood Advisors LLC boosted its holdings in shares of Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after buying an additional 22 shares during the period. TD Capital Management LLC raised its holdings in Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in Ameriprise Financial during the first quarter worth approximately $29,000. Salomon & Ludwin LLC boosted its holdings in shares of Ameriprise Financial by 115.4% during 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. Finally, WPG Advisers LLC acquired a new position in shares of Ameriprise Financial in the first quarter valued at approximately $33,000. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

AMP has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Evercore ISI decreased their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. 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 report on Friday, July 25th. Royal Bank Of Canada boosted their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $539.50.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $478.90 on Monday. 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 company has a market cap of $45.15 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26. The company has a 50 day moving average of $494.36 and a 200-day moving average of $503.05. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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 business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the firm posted $8.72 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was 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 approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the executive vice president 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 disclosure for this sale can be found here. Company 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.