HB Wealth Management LLC Sells 955 Shares of Ameriprise Financial, Inc. $AMP

HB Wealth Management LLC cut its position in Ameriprise Financial, Inc. (NYSE:AMP) by 12.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,464 shares of the financial services provider’s stock after selling 955 shares during the quarter. HB Wealth Management LLC’s holdings in Ameriprise Financial were worth $2,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Essex Financial Services Inc. raised its stake in Ameriprise Financial by 2.4% during the 4th quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock worth $443,000 after buying an additional 21 shares during the period. SouthState Bank Corp grew its stake in Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 22 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Ameriprise Financial by 5.4% during the second quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 23 shares in the last quarter. Optimist Retirement Group LLC increased its holdings in shares of Ameriprise Financial by 3.7% during the third quarter. Optimist Retirement Group LLC now owns 638 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 23 shares in the last quarter. Finally, Boyd Watterson Asset Management LLC OH raised its position in shares of Ameriprise Financial by 5.2% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 484 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 24 shares during the period. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $556.84 on Wednesday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $540.46 and a 200-day moving average price of $486.18. The company has a market cap of $50.06 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.00 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the previous year, the firm earned $9.11 earnings per share. Ameriprise Financial’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts anticipate that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were paid a dividend of $1.70 per share. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley increased their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings raised shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 3rd. Finally, Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Insider Activity

In other Ameriprise Financial news, insider William Williams sold 8,210 shares of Ameriprise Financial stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider directly owned 6,780 shares of the company’s stock, valued at $3,656,793. The trade was a 54.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deirdre Mcgraw sold 2,400 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the sale, the executive vice president owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,988 shares of company stock valued at $16,316,497 over the last quarter. 0.60% of the stock is owned by insiders.

About Ameriprise Financial

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.