Hexagon Capital Partners LLC Cuts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Hexagon Capital Partners LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 212 shares of the financial services provider’s stock after selling 36 shares during the period. Hexagon Capital Partners LLC’s holdings in Ameriprise Financial were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Heartland Bank & Trust Co lifted its position in shares of Ameriprise Financial by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock valued at $1,177,000 after acquiring an additional 24 shares in the last quarter. Portside Wealth Group LLC raised its position in shares of Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after buying an additional 25 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 26 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in Ameriprise Financial by 0.7% during the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock worth $1,606,000 after acquiring an additional 26 shares during the last quarter. Finally, Aua Capital Management LLC grew its stake in Ameriprise Financial by 4.7% during the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred 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 transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Price Performance

AMP stock opened at $491.33 on Friday. The business has a 50 day moving average price of $442.28 and a 200 day moving average price of $433.53. 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 stock has a market cap of $48.80 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.80 and a beta of 1.35. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $495.25.

Ameriprise Financial (NYSE:AMP) last announced its quarterly 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 firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. Ameriprise Financial’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $7.44 earnings per share. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.20%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMP shares. Jefferies Financial Group lifted their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Morgan Stanley decreased their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Keefe, Bruyette & Woods reduced their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Piper Sandler decreased their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Finally, The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $469.67.

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.