Bartlett & CO. Wealth Management LLC Sells 50 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Bartlett & CO. Wealth Management LLC trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.7% in the third quarter, Holdings Channel.com reports. The firm owned 7,193 shares of the financial services provider’s stock after selling 50 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Ameriprise Financial were worth $3,379,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after acquiring an additional 603,267 shares in the last quarter. Swedbank AB acquired a new position in Ameriprise Financial in the 1st quarter worth $108,938,000. Maj Invest Holding A S bought a new position in Ameriprise Financial during the 3rd quarter worth about $98,742,000. AGF Management Ltd. raised its stake in shares of Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after purchasing an additional 131,844 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after purchasing an additional 111,973 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $523.16 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The business’s 50 day moving average price is $457.59 and its two-hundred day moving average price is $437.23. The company has a market cap of $51.96 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $524.89.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the firm earned $7.44 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is presently 20.15%.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Piper Sandler lowered their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Finally, Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $480.44.

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.