Ameriprise Financial, Inc. $AMP Stock Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 97.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,220 shares of the financial services provider’s stock after selling 402,002 shares during the period. Ameriprise Financial accounts for 0.4% of Curated Wealth Partners LLC’s investment portfolio, making the stock its 27th biggest position. Curated Wealth Partners LLC’s holdings in Ameriprise Financial were worth $4,539,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AMP. Neville Rodie & Shaw Inc. raised its stake in Ameriprise Financial by 4,524.8% during the third quarter. Neville Rodie & Shaw Inc. now owns 32,651 shares of the financial services provider’s stock valued at $16,076,000 after buying an additional 31,945 shares during the last quarter. Canandaigua National Bank & Trust Co. bought a new stake in Ameriprise Financial in the 3rd quarter worth approximately $4,162,000. Ballew Advisors Inc purchased a new stake in Ameriprise Financial during the third quarter valued at $4,112,000. EP Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the 2nd quarter worth approximately $1,704,000. Finally, Venture Visionary Partners LLC boosted its stake in shares of Ameriprise Financial by 701.7% during the 3rd quarter. Venture Visionary Partners LLC now owns 123,789 shares of the financial services provider’s stock worth $60,948,000 after acquiring an additional 108,348 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Berman sold 11,012 shares of Ameriprise Financial stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deirdre Mcgraw sold 2,400 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the transaction, the executive vice president owned 3,373 shares of the company’s stock, valued at $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 29,988 shares of company stock valued at $16,316,497. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AMP shares. Morgan Stanley reduced their target price on shares of Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating for the company in a report on Friday, October 9th. Bank of America reissued a “buy” rating and set a $570.00 price target (down from $616.00) on shares of Ameriprise Financial in a research note on Monday, October 5th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Raymond James Financial boosted their target price on Ameriprise Financial from $582.00 to $638.00 and gave the company a “strong-buy” rating in a research report on Friday, August 21st. Finally, Argus upped their price target on shares of Ameriprise Financial from $534.00 to $590.00 and gave the company a “buy” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $572.55.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded up $0.74 during midday trading on Thursday, hitting $496.56. The company had a trading volume of 158,107 shares, compared to its average volume of 637,549. 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 company has a fifty day simple moving average of $535.87 and a 200 day simple moving average of $496.87. The stock has a market cap of $44.64 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.01 and a beta of 1.16. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $9.11 EPS. As a group, analysts predict that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has initiated a share buyback program on Tuesday, September 29th that allows the company to buy back $5.50 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Ameriprise Financial Announces Dividend

The company 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. This represents a $6.80 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s payout ratio is 16.40%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.

Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.