Lake Street Advisors Group LLC Sells 65 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Lake Street Advisors Group LLC lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,424 shares of the financial services provider’s stock after selling 65 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Ameriprise Financial were worth $1,139,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ledyard National Bank lifted its holdings in Ameriprise Financial by 3.2% during the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 23 shares in the last quarter. Heartland Bank & Trust Co boosted its holdings in shares of Ameriprise Financial by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 24 shares during the period. Portside Wealth Group LLC boosted its holdings in shares of Ameriprise Financial by 3.7% during the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 25 shares during the period. Signaturefd LLC boosted its holdings in shares of Ameriprise Financial by 1.1% during the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after acquiring an additional 26 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Ameriprise Financial by 0.7% in the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock valued at $1,606,000 after buying an additional 26 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AMP shares. Royal Bank of Canada boosted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday. Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $482.11.

Ameriprise Financial Stock Performance

NYSE AMP opened at $504.39 on Friday. Ameriprise Financial, Inc. has a 52-week low of $307.57 and a 52-week high of $524.89. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $50.10 billion, a P/E ratio of 17.17, a P/E/G ratio of 0.81 and a beta of 1.35. The company has a fifty day moving average of $465.77 and a 200-day moving average of $439.51.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm posted $7.44 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s dividend 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.