Sage Mountain Advisors LLC Sells 41 Shares of Ameriprise Financial, Inc. $AMP

Sage Mountain Advisors LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,397 shares of the financial services provider’s stock after selling 41 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Ameriprise Financial were worth $745,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMP. GAMMA Investing LLC raised its stake in shares of Ameriprise Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $2,114,000 after acquiring an additional 83 shares during the last quarter. NorthRock Partners LLC increased its holdings in shares of Ameriprise Financial by 8.9% in the second quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock valued at $5,847,000 after purchasing an additional 897 shares in the last quarter. Spire Wealth Management raised its position in Ameriprise Financial by 91.6% in the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider’s stock worth $692,000 after purchasing an additional 683 shares during the last quarter. Ascent Group LLC bought a new position in Ameriprise Financial in the 1st quarter worth approximately $371,000. Finally, Advisory Alpha LLC acquired a new position in Ameriprise Financial during the 1st quarter worth $265,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Up 0.2%

Ameriprise Financial stock opened at $478.90 on Friday. The firm has a market capitalization of $45.15 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.07 and a beta of 1.26. The company’s 50 day simple moving average is $494.36 and its 200 day simple moving average is $502.85. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.72 earnings per share. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Friday. Raymond James Financial lifted their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. Finally, William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $539.50.

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.