E. Ohman J or Asset Management AB Sells 470 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

E. Ohman J or Asset Management AB reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,030 shares of the financial services provider’s stock after selling 470 shares during the period. E. Ohman J or Asset Management AB’s holdings in Ameriprise Financial were worth $1,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Retirement Group LLC bought a new stake in Ameriprise Financial during the 1st quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. grew its position in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in Ameriprise Financial during the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial during the 1st quarter worth approximately $28,000. Finally, Mascoma Wealth Management LLC grew its position in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group increased their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Piper Sandler reduced their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Morgan Stanley upped their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $482.11.

Ameriprise Financial Price Performance

AMP opened at $504.39 on Friday. 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, Inc. has a 12 month low of $307.57 and a 12 month high of $524.89. The company has a fifty day simple moving average of $465.77 and a 200 day simple moving average of $439.51. The stock has a market cap of $50.10 billion, a P/E ratio of 17.17, a P/E/G ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the company earned $7.44 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts expect that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction dated 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 in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.73% of the stock is owned by corporate 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.