Fort Point Capital Partners LLC Sells 1,605 Shares of Ameriprise Financial, Inc. $AMP

Fort Point Capital Partners LLC trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 50.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,601 shares of the financial services provider’s stock after selling 1,605 shares during the quarter. Fort Point Capital Partners LLC’s holdings in Ameriprise Financial were worth $787,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Winnow Wealth LLC bought a new stake in Ameriprise Financial during the 2nd quarter valued at $32,000. Heartwood Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the 3rd quarter valued at $32,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the 3rd quarter worth $32,000. WFA of San Diego LLC bought a new position in shares of Ameriprise Financial in the 2nd quarter worth $36,000. Finally, Salomon & Ludwin LLC lifted its stake in shares of Ameriprise Financial by 76.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMP shares. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price target for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Stock Up 0.4%

Shares of AMP stock opened at $442.03 on Monday. The stock’s fifty day moving average price is $491.57 and its 200 day moving average price is $484.72. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $550.18. The company has a market cap of $40.30 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period last year, the business posted $9.54 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock worth $8,998,675 in the last three months. Corporate insiders own 0.57% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.