Oppenheimer Asset Management Inc. Has $2.01 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Oppenheimer Asset Management Inc. trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 22.1% in the second quarter, Holdings Channel.com reports. The firm owned 4,386 shares of the financial services provider’s stock after selling 1,241 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ameriprise Financial were worth $2,012,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMP. PFG Investments LLC raised its stake in shares of Ameriprise Financial by 1.4% during the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock worth $729,000 after buying an additional 21 shares during the last quarter. Institute for Wealth Management LLC. grew its holdings in Ameriprise Financial by 3.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 21 shares during the period. EPG Wealth Management LLC raised its position in shares of Ameriprise Financial by 0.8% during the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after acquiring an additional 21 shares during the last quarter. Essex Financial Services Inc. lifted its stake in shares of Ameriprise Financial by 2.4% in the 4th quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 21 shares during the period. Finally, SouthState Bank Corp lifted its stake in shares of Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares during the period. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Up 0.1%

NYSE:AMP opened at $570.06 on Monday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $51.25 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.77 and a beta of 1.14. The business’s 50-day simple moving average is $507.03 and its 200-day simple moving average is $480.15.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the business earned $9.11 EPS. Ameriprise Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts expect that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is 16.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Piper Sandler increased their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Finally, Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $555.33.

Insider Activity at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the sale, the senior vice president owned 713 shares of the company’s stock, valued at $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,988 shares of company stock worth $16,316,497 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

Ameriprise Financial Company Profile

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.