Private Wealth Asset Management LLC Cuts Position in Ameriprise Financial, Inc. $AMP

Key Points

• Private Wealth Asset Management LLC reduced its stake in Ameriprise Financial, Inc. by 40.6%, selling 600 shares, leaving it with 878 shares valued at approximately $469,000.
• CEO William F. Truscott sold 9,929 shares at an average price of $506.89, resulting in a significant decrease in his ownership of the stock by 47.34%.
• Ameriprise Financial recently declared a quarterly dividend of $1.60 per share, with a payout ratio of 19.91% and an annualized yield of 1.3%.

Private Wealth Asset Management LLC trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 40.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 878 shares of the financial services provider's stock after selling 600 shares during the period. Private Wealth Asset Management LLC's holdings in Ameriprise Financial were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Trust Co. of Vermont increased its stake in shares of Ameriprise Financial by 0.6% during the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider's stock valued at $1,618,000 after buying an additional 19 shares during the period. Plancorp LLC increased its position in Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider's stock valued at $213,000 after purchasing an additional 20 shares during the period. Old Port Advisors increased its position in Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider's stock valued at $737,000 after purchasing an additional 20 shares during the period. Pinnacle Associates Ltd. raised its holdings in shares of Ameriprise Financial by 1.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock valued at $665,000 after purchasing an additional 21 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Ameriprise Financial by 3.0% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider's stock worth $345,000 after purchasing an additional 21 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

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

Ameriprise Financial Price Performance

Shares of AMP stock opened at $481.48 on Thursday. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. 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 firm has a market capitalization of $45.39 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 1.09 and a beta of 1.26. The stock's 50-day simple moving average is $499.00 and its 200-day simple moving average is $501.48.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same period last year, the business earned $8.72 EPS. Ameriprise Financial's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial's payout ratio is 19.91%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMP shares. Morgan Stanley cut their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating on the stock in a report on Wednesday, October 1st. Raymond James Financial increased their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $539.50.

Ameriprise Financial 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.

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