Ameriprise Financial, Inc. $AMP Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 19.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 14,379 shares of the financial services provider’s stock after selling 3,383 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Ameriprise Financial were worth $7,064,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMP shares. Argus dropped their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Morgan Stanley raised 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. Royal Bank Of Canada reduced their price target on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Finally, BMO Capital Markets began coverage on Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $528.75.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the sale, the director owned 7,500 shares of the company’s stock, valued at $3,382,050. The trade was a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 2.3%

AMP stock opened at $496.29 on Friday. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The business’s 50-day moving average is $484.70 and its 200 day moving average is $492.92. 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 $46.11 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.28 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping the consensus estimate of $9.76 by $0.16. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.Ameriprise Financial’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $9.02 EPS. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

About Ameriprise Financial

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.