Vanguard Group Inc. Sells 66,097 Shares of Ameriprise Financial, Inc. $AMP

Vanguard Group Inc. reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 0.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,366,164 shares of the financial services provider’s stock after selling 66,097 shares during the quarter. Vanguard Group Inc. owned about 0.13% of Ameriprise Financial worth $6,074,878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMP. Whipplewood Advisors LLC boosted its holdings in Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 22 shares during the period. Salomon & Ludwin LLC raised its stake in Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 30 shares in the last quarter. Winnow Wealth LLC bought a new position in shares of Ameriprise Financial in the 2nd quarter worth $32,000. Heartwood Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $32,000. Finally, WFA of San Diego LLC purchased a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $36,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 1.3%

Ameriprise Financial stock opened at $473.38 on Tuesday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $552.43. The company has a market capitalization of $43.98 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26. The business’s fifty day simple moving average is $502.32 and its two-hundred day simple moving average is $490.47. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same period last year, the company earned $9.54 EPS. Ameriprise Financial’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred 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 $3,382,050. This trade represents a 16.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 18,158 shares of company stock valued at $9,675,085. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMP. Morgan Stanley increased their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Argus dropped their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $605.00 price target (up previously from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $555.67.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.