Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by MQS Management LLC

MQS Management LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 55.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 673 shares of the financial services provider’s stock after selling 825 shares during the quarter. MQS Management LLC’s holdings in Ameriprise Financial were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Group LLC acquired a new position in Ameriprise Financial in the first quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of Ameriprise Financial in the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at $28,000. Finally, Mascoma Wealth Management LLC boosted its holdings 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 worth $28,000 after buying an additional 40 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $460.61 on Friday. The company has a market cap of $45.75 billion, a P/E ratio of 15.68, a P/E/G ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $465.82. The company’s 50-day moving average price is $430.15 and its 200-day moving average price is $428.48. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted $7.44 EPS. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.29%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMP shares. Morgan Stanley lowered their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Piper Sandler cut their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. UBS Group dropped their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Jefferies Financial Group upped their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $464.33.

Insider Activity at Ameriprise Financial

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

Ameriprise Financial 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.