Sawtooth Solutions LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 35.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,485 shares of the financial services provider's stock after selling 831 shares during the quarter. Sawtooth Solutions LLC's holdings in Ameriprise Financial were worth $353,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Carlson Capital Management bought a new position in Ameriprise Financial during the second quarter worth $266,000. Brinker Capital Investments LLC boosted its stake in Ameriprise Financial by 42.9% during the second quarter. Brinker Capital Investments LLC now owns 5,908 shares of the financial services provider's stock worth $1,404,000 after buying an additional 1,774 shares in the last quarter. Equitable Trust Co. boosted its stake in Ameriprise Financial by 25.0% during the second quarter. Equitable Trust Co. now owns 15,743 shares of the financial services provider's stock worth $3,742,000 after buying an additional 3,148 shares in the last quarter. Field & Main Bank boosted its stake in Ameriprise Financial by 28.8% during the second quarter. Field & Main Bank now owns 335 shares of the financial services provider's stock worth $80,000 after buying an additional 75 shares in the last quarter. Finally, Veriti Management LLC boosted its stake in Ameriprise Financial by 1.7% during the second quarter. Veriti Management LLC now owns 3,289 shares of the financial services provider's stock worth $782,000 after buying an additional 54 shares in the last quarter. Institutional investors own 82.92% of the company's stock.
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Insider Activity at Ameriprise Financial
In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $277.01, for a total value of $277,010.00. Following the sale, the director now directly owns 16,500 shares in the company, valued at approximately $4,570,665. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
Ameriprise Financial Stock Down 0.8 %
Shares of NYSE:AMP opened at $251.95 on Friday. Ameriprise Financial, Inc. has a 12 month low of $219.99 and a 12 month high of $332.37. The company's 50-day moving average price is $271.62 and its two-hundred day moving average price is $268.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.14. The firm has a market cap of $27.25 billion, a P/E ratio of 9.07, a P/E/G ratio of 0.78 and a beta of 1.48.
Ameriprise Financial (NYSE:AMP – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $5.81 EPS for the quarter, topping analysts' consensus estimates of $5.73 by $0.08. Ameriprise Financial had a net margin of 23.49% and a return on equity of 53.86%. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the firm earned $5.27 EPS. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 23.97 EPS for the current fiscal year.
Ameriprise Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were given a dividend of $1.25 per share. The ex-dividend date was Friday, August 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.98%. Ameriprise Financial's payout ratio is presently 18.01%.
Analyst Ratings Changes
AMP has been the topic of a number of recent research reports. Bank of America initiated coverage on shares of Ameriprise Financial in a research note on Wednesday, September 7th. They set a "buy" rating and a $336.00 price target on the stock. Morgan Stanley upped their target price on shares of Ameriprise Financial from $270.00 to $295.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 17th. Evercore ISI lowered their target price on shares of Ameriprise Financial from $364.00 to $320.00 and set an "outperform" rating on the stock in a report on Wednesday, July 6th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $325.00 to $270.00 in a report on Friday, June 24th. Finally, Piper Sandler lowered their target price on shares of Ameriprise Financial from $231.00 to $220.00 and set an "underweight" rating on the stock in a report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $316.70.
About Ameriprise Financial
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Ameriprise Financial, Inc, through 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.
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