Ferguson Wellman Capital Management Inc. Cuts Stock Position in Ameriprise Financial, Inc. $AMP

Ferguson Wellman Capital Management Inc. lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 28.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,414 shares of the financial services provider’s stock after selling 16,662 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Ameriprise Financial were worth $18,849,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. SouthState Bank Corp increased its holdings in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 22 shares in the last quarter. Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at about $30,000. Ares Financial Consulting LLC purchased a new position in Ameriprise Financial in the fourth quarter worth about $32,000. Prosperity Bancshares Inc bought a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $33,000. Finally, Evolution Wealth Management Inc. purchased a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $34,000. 83.95% of the stock is owned by institutional investors.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares in the company, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Performance

AMP traded up $7.53 during mid-day trading on Friday, reaching $507.69. 456,166 shares of the company traded hands, compared to its average volume of 755,899. The company’s fifty day moving average price is $464.92 and its 200-day moving average price is $472.97. The stock has a market capitalization of $45.64 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.05 and a beta of 1.16. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the company posted $9.50 earnings per share. Ameriprise Financial’s revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 43.5 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $1.70 dividend. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is 16.91%.

Wall Street Analyst Weigh In

AMP has been the topic of several analyst reports. Piper Sandler upped their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. BMO Capital Markets boosted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating on the stock. Morgan Stanley increased their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Weiss Ratings downgraded Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $548.44.

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.