Elevation Point Wealth Partners LLC Sells 1,199 Shares of Ameriprise Financial, Inc. $AMP

Elevation Point Wealth Partners LLC lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 34.8% in the third quarter, Holdings Channel reports. The institutional investor owned 2,245 shares of the financial services provider’s stock after selling 1,199 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Ameriprise Financial were worth $1,103,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMP. Brevan Howard Capital Management LP lifted its holdings in shares of Ameriprise Financial by 75.0% in the third quarter. Brevan Howard Capital Management LP now owns 12,971 shares of the financial services provider’s stock worth $6,372,000 after buying an additional 5,557 shares in the last quarter. CSM Advisors LLC grew its stake in Ameriprise Financial by 32.7% during the third quarter. CSM Advisors LLC now owns 53,596 shares of the financial services provider’s stock valued at $26,334,000 after acquiring an additional 13,193 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new position in Ameriprise Financial during the third quarter valued at approximately $13,755,000. Clark Capital Management Group Inc. increased its holdings in Ameriprise Financial by 19.0% during the 3rd quarter. Clark Capital Management Group Inc. now owns 882 shares of the financial services provider’s stock worth $433,000 after acquiring an additional 141 shares during the period. Finally, Ausdal Financial Partners Inc. lifted its stake in Ameriprise Financial by 24.3% in the 3rd quarter. Ausdal Financial Partners Inc. now owns 1,146 shares of the financial services provider’s stock worth $563,000 after purchasing an additional 224 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Down 0.8%

Shares of NYSE:AMP opened at $438.44 on Tuesday. The firm has a market capitalization of $39.98 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18. The firm has a fifty day moving average of $490.18 and a 200 day moving average of $484.16.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter last year, the business posted $9.54 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.60%.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. The trade was a 29.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 16,658 shares of company stock valued at $8,998,675. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on AMP. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $434.00 to $530.00 in a report on Friday, January 30th. Jefferies Financial Group increased their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.