Cwm LLC Trims Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Cwm LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,910 shares of the financial services provider’s stock after selling 224 shares during the quarter. Cwm LLC’s holdings in Ameriprise Financial were worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Empirical Finance LLC increased its position in shares of Ameriprise Financial by 3.0% during the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after acquiring an additional 113 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Ameriprise Financial in the 4th quarter valued at approximately $775,000. State Board of Administration of Florida Retirement System raised its position in Ameriprise Financial by 7.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after purchasing an additional 8,693 shares during the period. BDF Gestion acquired a new position in Ameriprise Financial during the second quarter worth $2,836,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of Ameriprise Financial by 12.8% during the first quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock worth $8,242,000 after buying an additional 2,139 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the topic of several research analyst reports. Morgan Stanley cut their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $473.56.

Ameriprise Financial Trading Up 1.2 %

Shares of NYSE:AMP opened at $517.46 on Thursday. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $518.05. The company’s 50 day moving average is $452.81 and its two-hundred day moving average is $435.99. The company has a market cap of $51.40 billion, a PE ratio of 17.61, a P/E/G ratio of 0.81 and a beta of 1.35. 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 posted its 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 firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.44 earnings per share. Equities analysts predict that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.73% of the stock is currently owned by insiders.

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.