SVB Wealth LLC Sells 830 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

SVB Wealth LLC lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 9.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,832 shares of the financial services provider’s stock after selling 830 shares during the period. SVB Wealth LLC’s holdings in Ameriprise Financial were worth $3,346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Retirement Group LLC bought a new stake in Ameriprise Financial during the 1st quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. raised its position in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Ameriprise Financial in the second quarter worth $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the first quarter worth $28,000. Finally, Mascoma Wealth Management LLC grew its stake in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Down 2.1 %

AMP stock opened at $430.17 on Friday. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $450.35. The stock has a market capitalization of $42.73 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.78 and a beta of 1.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm’s fifty day simple moving average is $428.01 and its two-hundred day simple moving average is $425.94.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.44 EPS. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on AMP shares. Piper Sandler decreased their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. UBS Group dropped their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Royal Bank of Canada raised their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Jefferies Financial Group upped 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. Finally, Morgan Stanley cut their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Company Profile

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.