Atlantic Edge Private Wealth Management LLC Reduces Stake in Ameriprise Financial, Inc. $AMP

Atlantic Edge Private Wealth Management LLC lessened its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,428 shares of the financial services provider’s stock after selling 1,105 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in Ameriprise Financial were worth $2,175,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AMP. Whipplewood Advisors LLC lifted its stake in shares of Ameriprise Financial by 71.0% in the 2nd 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 increased its holdings in Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after buying an additional 30 shares during the last quarter. Winnow Wealth LLC bought a new position in Ameriprise Financial in the second quarter worth approximately $32,000. Heartwood Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the 3rd quarter worth $32,000. Finally, WFA of San Diego LLC bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $36,000. 83.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AMP shares. Morgan Stanley lifted their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Keefe, Bruyette & Woods lowered their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Argus reduced their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. BMO Capital Markets began coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 target price on the stock. Finally, Evercore ISI dropped 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $528.75.

Ameriprise Financial Stock Up 0.9%

NYSE AMP opened at $508.25 on Friday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88. The stock has a market cap of $47.22 billion, a PE ratio of 13.94, a P/E/G ratio of 1.26 and a beta of 1.26. The stock’s 50 day moving average is $475.82 and its 200 day moving average is $495.10.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter last year, the business posted $9.02 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 7,500 shares in the company, valued at $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.73% of the stock is owned by company 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.