Stonegate Investment Group LLC Reduces Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Stonegate Investment Group LLC lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,851 shares of the financial services provider’s stock after selling 68 shares during the quarter. Stonegate Investment Group LLC’s holdings in Ameriprise Financial were worth $869,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Retirement Group LLC purchased a new position in Ameriprise Financial during the first quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in Ameriprise Financial during the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC purchased a new position in Ameriprise Financial during the first quarter valued at approximately $28,000. Finally, Mascoma Wealth Management LLC lifted its holdings in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.3 %

Shares of AMP opened at $523.16 on Friday. The company’s fifty day moving average is $457.59 and its 200 day moving average is $437.20. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $524.89. The stock has a market capitalization of $51.96 billion, a PE ratio of 17.81, a P/E/G ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business posted $7.44 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.6% on a year-over-year basis. Sell-side analysts expect that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Analysts Set New Price Targets

Several equities analysts have weighed in on AMP shares. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday. Piper Sandler lowered their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Finally, UBS Group boosted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $480.44.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.