Ameriprise Financial, Inc. $AMP Shares Sold by WBI Investments LLC

WBI Investments LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 52.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 710 shares of the financial services provider's stock after selling 778 shares during the quarter. WBI Investments LLC's holdings in Ameriprise Financial were worth $344,000 as of its most recent SEC filing.

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Other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial during the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at $31,000. TD Capital Management LLC grew its stake in Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new position in shares of Ameriprise Financial during the first quarter valued at approximately $29,000. Finally, WPG Advisers LLC acquired a new position in shares of Ameriprise Financial during the first quarter valued at approximately $33,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of AMP opened at $500.85 on Friday. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock's 50 day moving average is $516.65 and its two-hundred day moving average is $503.22. The firm has a market capitalization of $47.22 billion, a PE ratio of 15.58, a P/E/G ratio of 1.05 and a beta of 1.27.

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Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the company earned $8.72 earnings per share. Ameriprise Financial's quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

Wall Street Analyst Weigh In

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AMP has been the topic of several recent research reports. Piper Sandler lifted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods boosted their price objective 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. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their price objective for the company from $462.00 to $530.00 in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Royal Bank Of Canada upped their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial has a consensus rating of "Hold" and an average target price of $534.71.

View Our Latest Stock Report on Ameriprise Financial

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer 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. Corporate insiders own 0.73% of the company's stock.

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.

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Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP - Free Report).

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