Fifth Third Wealth Advisors LLC Sells 91 Shares of Ameriprise Financial, Inc. $AMP

Fifth Third Wealth Advisors LLC reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,922 shares of the financial services provider’s stock after selling 91 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $2,093,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AMP. Wealth Preservation Advisors LLC bought a new position in shares of Ameriprise Financial in the first quarter valued at about $29,000. TD Capital Management LLC raised its position in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares during the period. WPG Advisers LLC bought a new position in shares of Ameriprise Financial in the first quarter valued at about $33,000. Opal Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the first quarter valued at about $36,000. Finally, Hager Investment Management Services LLC raised its position in shares of Ameriprise Financial by 114.3% in the second quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 40 shares during the period. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 2.4%

Shares of Ameriprise Financial stock opened at $479.75 on Friday. The company has a market capitalization of $45.23 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.08 and a beta of 1.26. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The firm’s 50-day moving average price is $500.39 and its two-hundred day moving average price is $501.70.

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

Ameriprise Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMP. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Morgan Stanley lowered their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Raymond James Financial raised their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. Royal Bank Of Canada raised their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $539.50.

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.