Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 42.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 829 shares of the financial services provider’s stock after selling 613 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Ameriprise Financial were worth $354,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Portside Wealth Group LLC raised its holdings in Ameriprise Financial by 3.7% in the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after buying an additional 25 shares during the period. Signaturefd LLC grew its stake in Ameriprise Financial by 1.1% during the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 26 shares in the last quarter. Aua Capital Management LLC raised its position in Ameriprise Financial by 4.7% in the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 27 shares in the last quarter. Gratus Wealth Advisors LLC boosted its stake in shares of Ameriprise Financial by 1.5% in the 1st quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock valued at $779,000 after buying an additional 27 shares during the period. Finally, Resonant Capital Advisors LLC grew its position in shares of Ameriprise Financial by 4.7% during the first quarter. Resonant Capital Advisors LLC now owns 619 shares of the financial services provider’s stock worth $271,000 after buying an additional 28 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. UBS Group dropped their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Jefferies Financial Group lifted their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Argus upped 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. Finally, Piper Sandler cut their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $464.33.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded up $7.32 during trading on Friday, reaching $431.39. The company had a trading volume of 570,515 shares, compared to its average volume of 489,872. The firm has a market capitalization of $42.85 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $449.94. The stock’s fifty day moving average price is $425.98 and its 200 day moving average price is $420.86.

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

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio 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.