Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,100 shares of the financial services provider’s stock after selling 231 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Ameriprise Financial were worth $2,866,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Retirement Group LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at $25,000. DiNuzzo Private Wealth Inc. grew its position in 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 stake in Ameriprise Financial during the second quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter worth about $28,000. Finally, Mascoma Wealth Management LLC lifted its stake in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday. UBS Group increased their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley boosted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One investment 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $482.11.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were 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 directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $504.48 on Friday. The firm has a 50-day moving average of $467.23 and a two-hundred day moving average of $440.06. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $50.11 billion, a P/E ratio of 17.17, a PEG ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a 1-year low of $307.57 and a 1-year high of $524.89.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results 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 return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the business posted $7.44 earnings per share. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, research analysts expect that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a dividend of $1.48 per share. 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 payout ratio 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.