Prio Wealth Limited Partnership Sells 77 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Prio Wealth Limited Partnership trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 11.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 626 shares of the financial services provider’s stock after selling 77 shares during the period. Prio Wealth Limited Partnership’s holdings in Ameriprise Financial were worth $267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Group LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter valued at $25,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter valued at about $28,000. Finally, Mascoma Wealth Management LLC boosted its stake in Ameriprise Financial by 153.8% in 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. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now 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 accessible through this link. 0.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AMP shares. Keefe, Bruyette & Woods cut their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Royal Bank of Canada raised their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Jefferies Financial Group boosted their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, UBS Group lowered their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $463.00.

Ameriprise Financial Stock Up 1.5 %

Shares of Ameriprise Financial stock opened at $480.34 on Thursday. 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, Inc. has a 12-month low of $306.63 and a 12-month high of $482.23. The company has a market cap of $47.71 billion, a P/E ratio of 16.35, a PEG ratio of 0.80 and a beta of 1.35. The company’s fifty day simple moving average is $437.29 and its two-hundred day simple moving average is $431.61.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (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 analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. Ameriprise Financial’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.44 earnings per share. Research analysts anticipate that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio is presently 20.15%.

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.