Applied Finance Capital Management LLC Sells 6,233 Shares of Ameriprise Financial, Inc. $AMP

Applied Finance Capital Management LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 12.4% during the third quarter, Holdings Channel reports. The fund owned 44,087 shares of the financial services provider’s stock after selling 6,233 shares during the quarter. Ameriprise Financial comprises about 1.5% of Applied Finance Capital Management LLC’s holdings, making the stock its 27th biggest holding. Applied Finance Capital Management LLC’s holdings in Ameriprise Financial were worth $21,660,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC increased its holdings in shares of Ameriprise Financial by 0.5% in 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 purchasing an additional 20 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of 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 worth $391,000 after buying an additional 21 shares during the period. CreativeOne Wealth LLC grew its stake in Ameriprise Financial by 2.3% in the 2nd quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock valued at $497,000 after buying an additional 21 shares during the last quarter. Rexford Capital Inc. grew its stake in Ameriprise Financial by 20.6% in the 3rd quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock valued at $60,000 after buying an additional 21 shares during the last quarter. Finally, Mutual Advisors LLC raised its holdings in Ameriprise Financial by 4.5% in the 2nd quarter. Mutual Advisors LLC now owns 511 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 22 shares during the period. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMP. Argus reduced their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Jefferies Financial Group upped their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. 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. Finally, Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $434.00 to $530.00 in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $555.67.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the transaction, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. The trade was a 16.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is owned by company insiders.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $539.30 on Tuesday. The firm has a market cap of $50.11 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.27 and a beta of 1.26. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The stock’s fifty day moving average price is $501.31 and its two-hundred day moving average price is $491.83. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $552.43.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period in the prior year, the firm posted $9.54 EPS. Ameriprise Financial’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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 issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.60%.

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.