Copeland Capital Management LLC Decreases Stock Holdings in Ameriprise Financial, Inc. $AMP

Copeland Capital Management LLC trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,254 shares of the financial services provider’s stock after selling 142 shares during the quarter. Copeland Capital Management LLC’s holdings in Ameriprise Financial were worth $19,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased 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 buying an additional 83 shares during the period. Spire Wealth Management increased its stake in shares of Ameriprise Financial by 91.6% in the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider’s stock worth $692,000 after buying an additional 683 shares during the period. Ascent Group LLC purchased a new position in shares of Ameriprise Financial in the first quarter worth $371,000. Advisory Alpha LLC purchased a new position in shares of Ameriprise Financial in the first quarter worth $265,000. Finally, Exchange Traded Concepts LLC boosted its holdings in Ameriprise Financial by 488.5% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 806 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the business’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 completion of the transaction, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Piper Sandler lifted their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a report on Thursday, July 3rd. Raymond James Financial lifted their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Morgan Stanley cut their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their target price 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $536.83.

Ameriprise Financial Price Performance

AMP opened at $491.33 on Friday. The stock has a 50-day moving average price of $503.52 and a 200-day moving average price of $502.08. 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 firm has a market cap of $46.32 billion, a PE ratio of 15.29, a P/E/G ratio of 1.03 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.

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

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $1.60 dividend. 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 19.91%.

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.