Belpointe Asset Management LLC Decreases Stake in Ameriprise Financial, Inc. $AMP

Belpointe Asset Management LLC lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,460 shares of the financial services provider’s stock after selling 128 shares during the quarter. Belpointe Asset Management LLC’s holdings in Ameriprise Financial were worth $779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of AMP. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 21.3% in the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after purchasing an additional 1,023,002 shares during the last quarter. Nuveen LLC purchased a new stake in Ameriprise Financial during the first quarter valued at $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Ameriprise Financial by 55.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock valued at $1,086,724,000 after acquiring an additional 796,925 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Ameriprise Financial by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock valued at $578,852,000 after acquiring an additional 266,631 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Ameriprise Financial by 78.6% during the first quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock valued at $202,869,000 after acquiring an additional 189,525 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial 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 of the company’s stock, 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. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 1.5%

Ameriprise Financial stock opened at $490.09 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $46.20 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.12 and a beta of 1.26. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The business has a fifty day moving average price of $501.37 and a 200-day moving average price of $502.07.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $8.72 EPS. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s payout ratio is currently 19.91%.

Wall Street Analysts Forecast Growth

AMP has been the topic of several research reports. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Raymond James Financial lifted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. Morgan Stanley cut their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a report on Wednesday, October 1st. Finally, BMO Capital Markets assumed coverage on Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $535.14.

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.