Harfst & Associates Inc. Sells 492 Shares of Ameriprise Financial, Inc. $AMP

Harfst & Associates Inc. trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.1% in the second quarter, Holdings Channel.com reports. The fund owned 4,380 shares of the financial services provider’s stock after selling 492 shares during the quarter. Harfst & Associates Inc.’s holdings in Ameriprise Financial were worth $2,338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after buying an additional 50 shares in the last quarter. Avantax Advisory Services Inc. grew its position in Ameriprise Financial by 6.5% in the first quarter. Avantax Advisory Services Inc. now owns 2,579 shares of the financial services provider’s stock valued at $1,249,000 after acquiring an additional 158 shares during the period. Mackenzie Financial Corp raised its stake in Ameriprise Financial by 8.0% during the first quarter. Mackenzie Financial Corp now owns 11,420 shares of the financial services provider’s stock worth $5,529,000 after acquiring an additional 850 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of Ameriprise Financial by 3.0% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock valued at $345,000 after acquiring an additional 21 shares during the period. Finally, Fiera Capital Corp boosted its stake in shares of Ameriprise Financial by 15.9% in the 1st quarter. Fiera Capital Corp now owns 14,902 shares of the financial services provider’s stock valued at $7,214,000 after purchasing an additional 2,048 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $453.56 on Thursday. The stock has a market capitalization of $42.14 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.07 and a beta of 1.28. 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, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The business has a 50-day moving average price of $473.07 and a two-hundred day moving average price of $500.71.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the previous year, the firm posted $9.02 earnings per share. Ameriprise Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio is 17.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Argus decreased their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. BMO Capital Markets initiated coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price for the company. Finally, Evercore ISI reduced their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $533.22.

Insider Buying and Selling

In related news, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the transaction, the director owned 7,500 shares in the company, valued at approximately $3,382,050. This represents a 16.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company 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.