Apella Capital LLC Has $235,000 Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Apella Capital LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 543 shares of the financial services provider’s stock after selling 28 shares during the quarter. Apella Capital LLC’s holdings in Ameriprise Financial were worth $235,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AMP. Norges Bank acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $514,539,000. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the period. First Trust Advisors LP raised its stake in shares of Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after purchasing an additional 512,884 shares during the period. TD Asset Management Inc raised its stake in shares of Ameriprise Financial by 151.5% in the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after purchasing an additional 358,780 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $108,938,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of several recent research reports. Piper Sandler dropped their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Evercore ISI lifted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. UBS Group lowered their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Argus lifted their target price on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $464.33.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 0.7 %

AMP traded down $2.81 during trading on Wednesday, reaching $392.76. 625,463 shares of the stock traded hands, compared to its average volume of 491,518. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $39.01 billion, a PE ratio of 13.37, a P/E/G ratio of 0.73 and a beta of 1.37. The stock’s 50-day moving average is $428.86 and its 200 day moving average is $420.13. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $449.94.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the firm earned $7.44 EPS. The business’s revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be paid a $1.48 dividend. The ex-dividend date is Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.51%. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

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.