Freedom Investment Management Inc. lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 29.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,758 shares of the financial services provider's stock after selling 728 shares during the quarter. Freedom Investment Management Inc.'s holdings in Ameriprise Financial were worth $938,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Trust Co. of Vermont boosted its stake in shares of Ameriprise Financial by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider's stock valued at $1,618,000 after purchasing an additional 19 shares in the last quarter. Plancorp LLC boosted its stake in Ameriprise Financial by 4.8% during the first quarter. Plancorp LLC now owns 441 shares of the financial services provider's stock worth $213,000 after acquiring an additional 20 shares in the last quarter. Old Port Advisors boosted its stake in Ameriprise Financial by 1.5% during the second quarter. Old Port Advisors now owns 1,381 shares of the financial services provider's stock worth $737,000 after acquiring an additional 20 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Ameriprise Financial by 1.6% during the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock worth $665,000 after acquiring an additional 21 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its stake in Ameriprise Financial by 3.0% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider's stock worth $345,000 after acquiring an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.
Ameriprise Financial Stock Up 0.2%
Shares of Ameriprise Financial stock opened at $478.90 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $45.15 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a 50-day simple moving average of $494.36 and a two-hundred day simple moving average of $502.31.
Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same period in the previous year, the company earned $8.72 earnings per share. The firm's quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.
Insider Activity at Ameriprise Financial
In other news, EVP Heather J. Melloh sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares of the company's stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares of the company's stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several research firms recently commented on AMP. Morgan Stanley dropped their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 1st. BMO Capital Markets began coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They set a "market perform" rating and a $525.00 price objective on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Ameriprise Financial in a research note on Friday. Royal Bank Of Canada boosted their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Piper Sandler lifted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $539.50.
Get Our Latest Analysis on Ameriprise Financial
About Ameriprise Financial
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP - Free Report).
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