Envestnet Asset Management Inc. Lowers Holdings in Ameriprise Financial, Inc. $AMP

Envestnet Asset Management Inc. decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 8.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 571,723 shares of the financial services provider’s stock after selling 53,774 shares during the period. Envestnet Asset Management Inc. owned approximately 0.61% of Ameriprise Financial worth $280,859,000 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 AMP. Linden Thomas Advisory Services LLC grew its holdings in shares of Ameriprise Financial by 0.5% during the second quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock valued at $2,186,000 after buying an additional 20 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its stake in Ameriprise Financial by 2.9% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 21 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in shares of Ameriprise Financial by 2.3% in the 2nd quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock worth $497,000 after purchasing an additional 21 shares in the last quarter. Rexford Capital Inc. increased its holdings in shares of Ameriprise Financial by 20.6% in the 3rd quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 21 shares in the last quarter. Finally, Mutual Advisors LLC raised its stake in shares of Ameriprise Financial by 4.5% in the second quarter. Mutual Advisors LLC now owns 511 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 22 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMP shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Finally, Argus cut their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $544.61 on Thursday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $552.43. The stock’s fifty day moving average is $496.25 and its 200 day moving average is $491.95. The stock has a market cap of $50.60 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.24 and a beta of 1.26. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the previous year, the company posted $9.54 earnings per share. Ameriprise Financial’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

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 that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by corporate insiders.

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.