Signaturefd LLC Lowers Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Signaturefd LLC decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.2% during the third quarter, HoldingsChannel reports. The firm owned 2,471 shares of the financial services provider’s stock after selling 55 shares during the period. Signaturefd LLC’s holdings in Ameriprise Financial were worth $1,161,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMP. Wellington Management Group LLP raised its position in Ameriprise Financial by 11.4% during the fourth quarter. Wellington Management Group LLP now owns 6,158 shares of the financial services provider’s stock valued at $2,339,000 after purchasing an additional 630 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Ameriprise Financial by 10.6% in the first quarter. Los Angeles Capital Management LLC now owns 702 shares of the financial services provider’s stock worth $308,000 after buying an additional 67 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial in the first quarter worth about $32,000. Aspiriant LLC increased its holdings in shares of Ameriprise Financial by 16.6% in the first quarter. Aspiriant LLC now owns 946 shares of the financial services provider’s stock worth $415,000 after buying an additional 135 shares during the period. Finally, Revolve Wealth Partners LLC purchased a new position in shares of Ameriprise Financial in the first quarter worth about $204,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.2 %

Shares of NYSE:AMP opened at $520.47 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $524.89. The company has a market cap of $51.70 billion, a PE ratio of 17.72, a P/E/G ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The stock’s 50-day moving average is $464.19 and its 200 day moving average is $439.06.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $7.44 EPS. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.14%. Ameriprise Financial’s payout ratio is 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AMP shares. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Piper Sandler reduced their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $480.44.

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.