Argent Capital Management LLC Trims Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Argent Capital Management LLC lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,399 shares of the financial services provider’s stock after selling 1,241 shares during the period. Argent Capital Management LLC’s holdings in Ameriprise Financial were worth $23,208,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Empirical Finance LLC lifted its position in shares of Ameriprise Financial by 3.0% during the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after acquiring an additional 113 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Ameriprise Financial by 7.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after purchasing an additional 8,693 shares during the period. BDF Gestion purchased a new position in Ameriprise Financial during the 2nd quarter valued at about $2,836,000. Janney Montgomery Scott LLC increased its position in shares of Ameriprise Financial by 12.8% during the first quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock valued at $8,242,000 after buying an additional 2,139 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Ameriprise Financial in the first quarter worth about $570,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.73% of the stock is owned by insiders.

Ameriprise Financial Trading Down 3.7 %

Shares of AMP stock traded down $19.43 on Thursday, hitting $501.04. 267,261 shares of the company’s stock traded hands, compared to its average volume of 469,340. The stock has a market capitalization of $49.77 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 0.81 and a beta of 1.35. The company’s fifty day simple moving average is $464.19 and its 200 day simple moving average is $439.06. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $524.89. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating 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 company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the company posted $7.44 EPS. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts forecast that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.18%. Ameriprise Financial’s dividend payout ratio is 20.15%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. UBS Group lifted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada upped their target price on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price 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.