Ameriprise Financial, Inc. (NYSE:AMP) Holdings Lowered by Redwood Investment Management LLC

Redwood Investment Management LLC trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,541 shares of the financial services provider’s stock after selling 180 shares during the period. Redwood Investment Management LLC’s holdings in Ameriprise Financial were worth $1,553,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Retirement Group LLC purchased a new stake in Ameriprise Financial in the 1st quarter worth about $25,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 1st quarter worth about $28,000. Annapolis Financial Services LLC lifted its stake in Ameriprise Financial by 928.6% in the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 65 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial in the 1st quarter worth about $32,000. Finally, Benjamin Edwards Inc. purchased a new stake in Ameriprise Financial in the 1st quarter worth about $34,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Argus raised their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Evercore ISI raised their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. UBS Group cut their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Royal Bank of Canada raised their price target on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Stock Down 0.4 %

Shares of NYSE AMP traded down $1.91 during mid-day trading on Wednesday, reaching $429.96. 352,836 shares of the company traded hands, compared to its average volume of 487,709. The stock has a market cap of $42.70 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The company’s fifty day moving average is $431.72 and its two-hundred day moving average is $419.08. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $449.94.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $7.44 EPS. On average, analysts expect that Ameriprise Financial, Inc. will post 34.86 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

About Ameriprise Financial

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.