Los Angeles Capital Management LLC Decreases Position in Ameriprise Financial, Inc. (NYSE:AMP)

Los Angeles Capital Management LLC lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 5.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,294 shares of the financial services provider’s stock after selling 393 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ameriprise Financial were worth $1,586,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Better Money Decisions LLC purchased a new position in shares of Ameriprise Financial in the second quarter valued at about $28,000. ACG Wealth purchased a new position in shares of Ameriprise Financial in the second quarter valued at about $30,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of Ameriprise Financial in the second quarter valued at about $31,000. Vigilant Capital Management LLC increased its position in shares of Ameriprise Financial by 120.3% in the third quarter. Vigilant Capital Management LLC now owns 141 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 77 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in shares of Ameriprise Financial by 106.6% in the first quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AMP shares. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $240.00 to $250.00 and gave the company an “underweight” rating in a research report on Friday, October 7th. The Goldman Sachs Group boosted their price target on shares of Ameriprise Financial from $290.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, November 23rd. UBS Group boosted their price target on shares of Ameriprise Financial from $355.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, January 9th. StockNews.com cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Thursday, December 8th. Finally, Morgan Stanley boosted their price target on shares of Ameriprise Financial from $340.00 to $345.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $332.70.

Insider Transactions at Ameriprise Financial

In other news, insider Dawn M. Brockman sold 410 shares of the company’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total value of $127,358.30. Following the transaction, the insider now owns 875 shares in the company, valued at $271,801.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Gerard P. Smyth sold 4,129 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $324.66, for a total value of $1,340,521.14. Following the transaction, the executive vice president now owns 5,272 shares in the company, valued at $1,711,607.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dawn M. Brockman sold 410 shares of the stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total transaction of $127,358.30. Following the transaction, the insider now owns 875 shares in the company, valued at approximately $271,801.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,737 shares of company stock worth $9,796,822. Corporate insiders own 1.00% of the company’s stock.

Ameriprise Financial Trading Up 3.1 %

NYSE:AMP opened at $333.25 on Monday. Ameriprise Financial, Inc. has a one year low of $219.99 and a one year high of $339.41. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.79 and a quick ratio of 0.79. The company’s 50-day simple moving average is $321.27 and its 200 day simple moving average is $289.52. The firm has a market capitalization of $35.46 billion, a P/E ratio of 13.90, a PEG ratio of 0.66 and a beta of 1.46.

Ameriprise Financial (NYSE:AMP – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $6.43 EPS for the quarter, topping the consensus estimate of $5.82 by $0.61. Ameriprise Financial had a net margin of 19.17% and a return on equity of 61.53%. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the previous year, the firm posted $5.91 earnings per share. Ameriprise Financial’s quarterly revenue was up 20.3% on a year-over-year basis. As a group, analysts forecast that Ameriprise Financial, Inc. will post 24.54 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were paid a $1.25 dividend. The ex-dividend date was Friday, November 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.50%. Ameriprise Financial’s dividend payout ratio is presently 20.85%.

Ameriprise Financial Company Profile

(Get Rating)

Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.