Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 26.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,119 shares of the financial services provider’s stock after selling 1,119 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Ameriprise Financial were worth $1,332,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Empirical Finance LLC grew its position in Ameriprise Financial by 3.0% in 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 in the last quarter. Nomura Holdings Inc. acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $775,000. State Board of Administration of Florida Retirement System grew 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 acquiring an additional 8,693 shares in the last quarter. BDF Gestion acquired a new stake in Ameriprise Financial in the second quarter valued at approximately $2,836,000. Finally, Janney Montgomery Scott LLC grew its position in Ameriprise Financial by 12.8% in the first quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock valued at $8,242,000 after acquiring an additional 2,139 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated 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. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of several research analyst reports. Piper Sandler reduced their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group increased 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. Morgan Stanley reduced their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Keefe, Bruyette & Woods reduced their target price on 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. Finally, Royal Bank of Canada increased their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $463.00.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $479.54 on Friday. The company has a market cap of $47.63 billion, a P/E ratio of 16.32, a PEG ratio of 0.80 and a beta of 1.35. The business has a 50 day moving average of $438.05 and a two-hundred day moving average of $431.95. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $482.23. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion during 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%. During the same quarter in the previous year, the firm posted $7.44 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors 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 dividend on an annualized basis and a dividend yield of 1.23%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

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.