Ritholtz Wealth Management Has $751,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Ritholtz Wealth Management lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.0% during the second quarter, Holdings Channel.com reports. The firm owned 1,758 shares of the financial services provider’s stock after selling 36 shares during the period. Ritholtz Wealth Management’s holdings in Ameriprise Financial were worth $751,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Retirement Group LLC acquired a new position in shares of Ameriprise Financial during the first quarter valued at $25,000. DiNuzzo Private Wealth Inc. lifted its stake 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 acquiring an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new position in shares of Ameriprise Financial during the second quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the first quarter valued at $28,000. Finally, Bank & Trust Co acquired a new position in shares of Ameriprise Financial during the second quarter valued at $29,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMP. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Jefferies Financial Group upped their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Piper Sandler dropped their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Finally, Morgan Stanley dropped their price objective on 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 analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Stock Down 1.7 %

Shares of Ameriprise Financial stock opened at $441.96 on Wednesday. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $450.35. The business has a 50-day moving average of $427.58 and a two-hundred day moving average of $425.29. The company has a market capitalization of $43.90 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 0.78 and a beta of 1.37. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59.

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, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the company earned $7.44 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.34%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

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.