One Wealth Management Investment & Advisory Services LLC Reduces Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

One Wealth Management Investment & Advisory Services LLC trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 634 shares of the financial services provider’s stock after selling 59 shares during the period. One Wealth Management Investment & Advisory Services LLC’s holdings in Ameriprise Financial were worth $271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after buying an additional 603,267 shares during the period. Norges Bank bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $514,539,000. Dimensional Fund Advisors LP raised its stake in shares of Ameriprise Financial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock worth $385,620,000 after buying an additional 35,931 shares during the period. TD Asset Management Inc raised its stake in shares of Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after buying an additional 111,973 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Ameriprise Financial by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after buying an additional 32,312 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Piper Sandler dropped their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Royal Bank of Canada lifted their target price on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Morgan Stanley dropped their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Finally, UBS Group dropped their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $464.33.

Ameriprise Financial Trading Down 2.1 %

AMP traded down $9.38 during trading hours on Friday, reaching $430.17. 561,851 shares of the company’s stock traded hands, compared to its average volume of 481,335. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average price of $428.01 and a 200 day moving average price of $425.74. The firm has a market capitalization of $42.73 billion, a PE ratio of 14.65, a PEG ratio of 0.78 and a beta of 1.35. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $450.35.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion during 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%. Ameriprise Financial’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $7.44 EPS. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Ameriprise Financial Company 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.