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

Cerity Partners LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 6.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 63,883 shares of the financial services provider’s stock after selling 4,112 shares during the quarter. Cerity Partners LLC’s holdings in Ameriprise Financial were worth $31,383,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC raised its position 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 acquiring an additional 22 shares during the period. Salomon & Ludwin LLC increased its stake 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 during the last quarter. Winnow Wealth LLC purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $32,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth approximately $32,000. Finally, WFA of San Diego LLC purchased a new position in Ameriprise Financial in the second quarter valued at approximately $36,000. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’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 directly owned 7,500 shares in the company, valued at $3,382,050. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $503.48 on Friday. The company has a 50 day moving average of $474.71 and a 200 day moving average of $495.36. The stock has a market cap of $46.78 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.24 and a beta of 1.26. 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.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) 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 prior year, the company posted $9.02 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on AMP shares. Argus decreased their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Evercore ISI lowered their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Royal Bank Of Canada dropped their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Keefe, Bruyette & Woods cut their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $528.75.

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.