US Asset Management LLC Sells 82 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

US Asset Management LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,023 shares of the financial services provider’s stock after selling 82 shares during the period. US Asset Management LLC’s holdings in Ameriprise Financial were worth $864,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMP. Retirement Group LLC bought a new stake in Ameriprise Financial in the 1st quarter worth about $25,000. DiNuzzo Private Wealth Inc. grew its position in 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 stake in Ameriprise Financial in the 2nd quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial in the 1st quarter worth about $28,000. Finally, Mascoma Wealth Management LLC grew its position in shares of Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares during the period. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

AMP stock opened at $440.39 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $450.35. The firm’s fifty day moving average is $428.44 and its 200 day moving average is $426.93. The firm has a market cap of $43.24 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.75 and a beta of 1.35.

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 analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the firm earned $7.44 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Research analysts predict that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced 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 yield of 1.34%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their target price on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Morgan Stanley reduced their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. 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 target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $464.33.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred 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 sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

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.