Sage Mountain Advisors LLC Has $745,000 Stake in Ameriprise Financial, Inc. $AMP

Sage Mountain Advisors LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,397 shares of the financial services provider’s stock after selling 41 shares during the period. Sage Mountain Advisors LLC’s holdings in Ameriprise Financial were worth $745,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. TD Capital Management LLC lifted its holdings 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 purchasing an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter worth $29,000. Salomon & Ludwin LLC lifted its stake in shares of Ameriprise Financial by 115.4% in the second 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 last quarter. WPG Advisers LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter worth $33,000. Finally, Hager Investment Management Services LLC grew its stake 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 valued at $40,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on 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 directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $478.90 on Friday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The company has a market capitalization of $45.15 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.07 and a beta of 1.26. The stock has a 50 day moving average of $494.36 and a two-hundred day moving average of $502.85. 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 issued 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 business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the company posted $8.72 earnings per share. Ameriprise Financial’s revenue was up 2.2% on a year-over-year basis. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMP shares. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. BMO Capital Markets began coverage on Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective for the company. Piper Sandler raised their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a report on Thursday, July 3rd. Evercore ISI cut their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Finally, Morgan Stanley reduced their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $539.50.

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.