Hohimer Wealth Management LLC Sells 2,021 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Hohimer Wealth Management LLC trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 16.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,287 shares of the financial services provider’s stock after selling 2,021 shares during the period. Ameriprise Financial makes up approximately 1.0% of Hohimer Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Hohimer Wealth Management LLC’s holdings in Ameriprise Financial were worth $4,395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMP. Chase Investment Counsel Corp grew its stake in Ameriprise Financial by 30.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 3,400 shares of the financial services provider’s stock worth $1,462,000 after buying an additional 800 shares during the last quarter. Journey Advisory Group LLC boosted its holdings in Ameriprise Financial by 9.6% in the second quarter. Journey Advisory Group LLC now owns 11,185 shares of the financial services provider’s stock worth $4,778,000 after acquiring an additional 976 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Ameriprise Financial by 43.5% during the second quarter. Deseret Mutual Benefit Administrators now owns 439 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 133 shares during the last quarter. Birchcreek Wealth Management LLC increased its holdings in shares of Ameriprise Financial by 29.1% during the second quarter. Birchcreek Wealth Management LLC now owns 657 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 148 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its holdings in shares of Ameriprise Financial by 15.8% during the second quarter. Belpointe Asset Management LLC now owns 2,068 shares of the financial services provider’s stock valued at $884,000 after acquiring an additional 282 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Piper Sandler lowered their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. UBS Group cut their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Morgan Stanley decreased their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $464.33.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded down $3.71 during trading hours on Thursday, reaching $439.20. The stock had a trading volume of 46,356 shares, compared to its average volume of 477,992. The stock’s 50 day moving average is $427.77 and its 200 day moving average is $425.41. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $450.35. The firm has a market capitalization of $43.62 billion, a PE ratio of 15.08, a PEG ratio of 0.78 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (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 the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.44 earnings per share. Equities analysts expect that Ameriprise Financial, Inc. will post 34.81 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 16th. Shareholders of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Ameriprise Financial Company Profile

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.