Ameriprise Financial, Inc. $AMP Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 22.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,386 shares of the financial services provider’s stock after selling 1,241 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ameriprise Financial were worth $2,012,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in shares of Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after buying an additional 50 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Ameriprise Financial by 11.8% during the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after acquiring an additional 634 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 72 shares during the last quarter. Schnieders Capital Management LLC. acquired a new position in shares of Ameriprise Financial in the 2nd quarter worth $313,000. Finally, Gabelli Funds LLC raised its position in shares of Ameriprise Financial by 224.8% during the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock worth $2,253,000 after purchasing an additional 2,922 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 472 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the sale, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William Jerryl Williams sold 8,210 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the sale, the insider owned 6,780 shares in the company, valued at $3,656,793. This represents a 54.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

NYSE AMP opened at $570.06 on Monday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The company has a fifty day simple moving average of $507.03 and a 200 day simple moving average of $480.15. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The company has a market cap of $51.25 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.77 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the company earned $9.11 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is currently 16.40%.

Analyst Ratings Changes

AMP has been the topic of several recent analyst reports. Morgan Stanley boosted their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. BMO Capital Markets raised their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Piper Sandler lifted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Finally, Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $555.33.

Ameriprise Financial Profile

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.