HB Wealth Management LLC Sells 773 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• HB Wealth Management LLC has reduced its stake in Ameriprise Financial by 16.8%, selling 773 shares, leaving them with 3,828 shares valued at approximately $2,043,000.
• Ameriprise Financial recently reported an EPS of $9.11, exceeding expectations, with a 2.2% increase in quarterly revenue year-over-year.
• The company's stock has seen significant activity from insiders, with the EVP and CEO both selling portions of their shares, indicating a possible shift in insider sentiment.

HB Wealth Management LLC decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 16.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,828 shares of the financial services provider's stock after selling 773 shares during the quarter. HB Wealth Management LLC's holdings in Ameriprise Financial were worth $2,043,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. TD Capital Management LLC grew its stake in shares of Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock valued at $29,000 after buying an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in shares of Ameriprise Financial during the first quarter valued at approximately $29,000. WPG Advisers LLC bought a new position in Ameriprise Financial in the first quarter worth approximately $33,000. Opal Wealth Advisors LLC bought a new position in Ameriprise Financial in the first quarter worth approximately $36,000. Finally, TCTC Holdings LLC grew its stake in Ameriprise Financial by 100.0% in the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

AMP has been the topic of several research analyst reports. Piper Sandler increased their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada increased their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Raymond James Financial increased their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. Morgan Stanley dropped their price objective on Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating on the stock in a research note on Wednesday. Finally, William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average target price of $536.83.

Ameriprise Financial Stock Up 1.0%

Shares of NYSE AMP opened at $491.33 on Friday. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The stock's fifty day simple moving average is $503.52 and its two-hundred day simple moving average is $502.08. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $46.32 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 1.03 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the business posted $8.72 EPS. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's dividend payout ratio is currently 19.91%.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company's stock.

About Ameriprise Financial

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.

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