Apella Capital LLC Decreases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Apella Capital LLC cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 543 shares of the financial services provider’s stock after selling 28 shares during the period. Apella Capital LLC’s holdings in Ameriprise Financial were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMP. Empirical Finance LLC raised its position in shares of Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after purchasing an additional 113 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Ameriprise Financial by 0.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock valued at $5,166,000 after acquiring an additional 73 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ameriprise Financial by 3.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock valued at $42,238,000 after acquiring an additional 4,203 shares in the last quarter. Cerity Partners LLC raised its position in shares of Ameriprise Financial by 280.6% during the 4th quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock valued at $11,585,000 after acquiring an additional 22,487 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at approximately $775,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

AMP stock traded down $2.81 during trading on Wednesday, hitting $392.76. The company had a trading volume of 625,463 shares, compared to its average volume of 491,518. The company has a fifty day moving average price of $428.86 and a two-hundred day moving average price of $420.13. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. The company has a market cap of $39.01 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $449.94.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.44 earnings per share. Equities research analysts expect that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.51%. Ameriprise Financial’s payout ratio is currently 20.15%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMP. Piper Sandler cut their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Argus raised their target price on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Morgan Stanley lowered their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Finally, UBS Group lowered their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $464.33.

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.