Ferguson Wellman Capital Management Inc. Sells 1,404 Shares of Ameriprise Financial, Inc. $AMP

Ferguson Wellman Capital Management Inc. lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,072 shares of the financial services provider’s stock after selling 1,404 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Ameriprise Financial were worth $19,729,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Adelphi Trust Co boosted its holdings in Ameriprise Financial by 2.3% in the third quarter. Adelphi Trust Co now owns 2,058 shares of the financial services provider’s stock valued at $1,013,000 after acquiring an additional 47 shares during the last quarter. Eastern Bank raised its holdings in Ameriprise Financial by 2.2% during the 3rd quarter. Eastern Bank now owns 1,433 shares of the financial services provider’s stock worth $706,000 after purchasing an additional 31 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Ameriprise Financial by 77.3% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 121,161 shares of the financial services provider’s stock worth $59,654,000 after purchasing an additional 52,806 shares during the last quarter. Marotta Asset Management acquired a new position in shares of Ameriprise Financial in the 3rd quarter worth approximately $13,450,000. Finally, Miller Global Investments LLC bought a new stake in shares of Ameriprise Financial in the 3rd quarter valued at $69,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Up 0.6%

Shares of AMP stock traded up $2.77 on Monday, reaching $493.69. 181,544 shares of the company were exchanged, compared to its average volume of 644,516. The company has a market cap of $44.38 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.88 and a beta of 1.16. The company has a 50-day moving average of $544.14 and a 200-day moving average of $493.79. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the company posted $9.11 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. Analysts anticipate that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Ameriprise Financial declared that its Board of Directors has initiated a share repurchase plan on Tuesday, September 29th that allows the company to buyback $5.50 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMP shares. Jefferies Financial Group increased their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Piper Sandler upped their target price on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Bank of America reaffirmed a “buy” rating and set a $570.00 target price on shares of Ameriprise Financial in a research note on Monday. Morgan Stanley lifted their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Finally, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Moderate Buy” and an average price target of $556.80.

Insider Transactions at Ameriprise Financial

In other news, insider William Williams sold 8,210 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider directly owned 6,780 shares of the company’s stock, valued at $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Dawn Brockman sold 472 shares of the 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 completion of the transaction, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 29,988 shares of company stock worth $16,316,497. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.

Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.