Red Cedar Investment Management LLC Decreases Stake in Ameriprise Financial, Inc. $AMP

Red Cedar Investment Management LLC trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 17.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,714 shares of the financial services provider’s stock after selling 1,808 shares during the period. Red Cedar Investment Management LLC’s holdings in Ameriprise Financial were worth $4,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trust Co. of Vermont increased its holdings in shares of Ameriprise Financial by 0.6% in the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after purchasing an additional 19 shares during the period. Linden Thomas Advisory Services LLC increased its stake in Ameriprise Financial by 0.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock valued at $2,186,000 after buying an additional 20 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its position in Ameriprise Financial by 2.9% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock worth $391,000 after buying an additional 21 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in shares of Ameriprise Financial by 2.3% in the 2nd quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock worth $497,000 after acquiring an additional 21 shares during the period. Finally, Rexford Capital Inc. lifted its stake in shares of Ameriprise Financial by 20.6% in the 3rd quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 21 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares in the company, valued at $3,382,050. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.57% of the company’s stock.

Ameriprise Financial Stock Up 0.8%

Shares of Ameriprise Financial stock opened at $500.36 on Tuesday. The company has a market capitalization of $46.49 billion, a PE ratio of 13.72, a P/E/G ratio of 1.28 and a beta of 1.26. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. The business has a 50-day moving average of $485.90 and a 200-day moving average of $492.29. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.02 earnings per share. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.55%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMP. Evercore ISI cut their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Royal Bank Of Canada reduced their price target on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Finally, Morgan Stanley increased their price target on 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, three have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $528.75.

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.