SVB Wealth LLC Has $2.14 Million Holdings in Ameriprise Financial, Inc. $AMP

SVB Wealth LLC decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 35.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,009 shares of the financial services provider’s stock after selling 2,245 shares during the period. SVB Wealth LLC’s holdings in Ameriprise Financial were worth $2,140,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Ameriprise Financial in the 2nd quarter valued at about $693,736,000. Nuveen LLC acquired a new stake in Ameriprise Financial in the 1st quarter worth about $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Ameriprise Financial by 55.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after buying an additional 796,925 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Ameriprise Financial by 7.7% in the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after purchasing an additional 446,080 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Ameriprise Financial by 78.6% in the 1st quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock valued at $202,869,000 after buying an additional 189,525 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada dropped their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Thursday. BMO Capital Markets assumed coverage on Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target for the company. Evercore ISI cut their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Finally, Morgan Stanley lowered their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $533.22.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the sale, the director owned 7,500 shares in the company, valued at approximately $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $476.20 on Tuesday. The company has a market capitalization of $44.24 billion, a PE ratio of 13.06, a P/E/G ratio of 1.20 and a beta of 1.26. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The firm has a fifty day simple moving average of $468.44 and a two-hundred day simple moving average of $497.60. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.88.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the prior year, the firm posted $9.02 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is currently 17.55%.

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.