Forum Financial Management LP Sells 22 Shares of Ameriprise Financial, Inc. $AMP

Forum Financial Management LP trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,463 shares of the financial services provider’s stock after selling 22 shares during the period. Forum Financial Management LP’s holdings in Ameriprise Financial were worth $781,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in AMP. TD Capital Management LLC increased its position 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 worth $29,000 after buying an additional 51 shares during the period. Wealth Preservation Advisors LLC bought a new position in Ameriprise Financial in the 1st quarter worth approximately $29,000. Salomon & Ludwin LLC increased its position in Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares during the period. WPG Advisers LLC bought a new position in Ameriprise Financial in the 1st quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC increased its position in Ameriprise Financial by 114.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock worth $40,000 after buying an additional 40 shares during the period. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $478.28 on Friday. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The firm has a market capitalization of $45.09 billion, a PE ratio of 14.88, a PEG ratio of 1.06 and a beta of 1.26. The business’s 50 day moving average is $494.84 and its 200-day moving average is $501.95. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

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

Analysts Set New Price Targets

AMP has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Royal Bank Of Canada lifted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Piper Sandler lifted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Finally, William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $539.50.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was 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 $5,599,613.83. The trade was a 47.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

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.