Oppenheimer & Co. Inc. Sells 1,935 Shares of Ameriprise Financial, Inc. $AMP

Oppenheimer & Co. Inc. trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 71.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 762 shares of the financial services provider’s stock after selling 1,935 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ameriprise Financial were worth $374,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Ameriprise Financial by 0.9% in the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after buying an additional 111,386 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ameriprise Financial by 7.7% in the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after acquiring an additional 446,080 shares during the period. Geode Capital Management LLC increased its position in shares of Ameriprise Financial by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock valued at $1,500,115,000 after purchasing an additional 47,584 shares during the last quarter. Norges Bank purchased a new stake in Ameriprise Financial during the second quarter valued at approximately $693,736,000. Finally, Boston Partners raised its holdings in Ameriprise Financial by 3.1% in the 2nd quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock worth $629,650,000 after purchasing an additional 35,500 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 2.0%

NYSE:AMP opened at $478.23 on Thursday. The stock has a market capitalization of $44.43 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.09 and a beta of 1.26. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $550.18. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm has a 50 day moving average of $501.75 and a 200 day moving average of $490.16.

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

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s payout ratio is 17.60%.

Analyst Ratings Changes

A number of research firms have commented on AMP. Argus decreased their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price target for the company from $434.00 to $530.00 in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $555.67.

Insider Buying and Selling

In related news, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. This represents a 29.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,158 shares of company stock valued at $9,675,085 in the last ninety days. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Company 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.