MorganRosel Wealth Management LLC Sells 184 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

MorganRosel Wealth Management LLC lessened its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,871 shares of the financial services provider’s stock after selling 184 shares during the period. MorganRosel Wealth Management LLC’s holdings in Ameriprise Financial were worth $879,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 18.6% during 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 purchasing an additional 603,267 shares during the last quarter. Swedbank AB acquired a new position in shares of Ameriprise Financial during the 1st quarter worth about $108,938,000. Maj Invest Holding A S bought a new position in shares of Ameriprise Financial in the 3rd quarter valued at about $98,742,000. AGF Management Ltd. grew its holdings in shares of Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after acquiring an additional 131,844 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of Ameriprise Financial by 18.8% during the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after purchasing an additional 111,973 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 2.3 %

AMP opened at $502.50 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a fifty day moving average of $445.74 and a 200-day moving average of $434.45. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $502.97. The company has a market capitalization of $49.34 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the business posted $7.44 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.28%.

Analyst Upgrades and Downgrades

AMP has been the topic of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group upped their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Piper Sandler reduced their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $473.56.

Insider Activity

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.73% of the company’s stock.

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.