Cerity Partners LLC Sells 4,112 Shares of Ameriprise Financial, Inc. $AMP

Cerity Partners LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,883 shares of the financial services provider’s stock after selling 4,112 shares during the quarter. Cerity Partners LLC owned 0.07% of Ameriprise Financial worth $31,383,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC grew its holdings in Ameriprise Financial by 71.0% in the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares during the period. Salomon & Ludwin LLC boosted its position in shares of Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares in the last quarter. Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial in the 2nd quarter valued at about $32,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at about $32,000. Finally, WFA of San Diego LLC bought a new stake in Ameriprise Financial in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of research reports. Morgan Stanley upped their price target on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. BMO Capital Markets started coverage on Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price on the stock. Evercore ISI reduced their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. Finally, Argus decreased their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $528.75.

Ameriprise Financial Stock Performance

NYSE AMP opened at $503.48 on Friday. The company has a fifty day moving average price of $474.71 and a 200-day moving average price of $495.36. The firm has a market cap of $46.78 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.24 and a beta of 1.26. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period in the previous year, the company earned $9.02 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is currently 17.55%.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.