Vontobel Holding Ltd. Decreases Stock Position in Ameriprise Financial, Inc. $AMP

Vontobel Holding Ltd. cut its position in Ameriprise Financial, Inc. (NYSE:AMP) by 12.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,031 shares of the financial services provider’s stock after selling 1,029 shares during the quarter. Vontobel Holding Ltd.’s holdings in Ameriprise Financial were worth $3,226,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 50 shares during the period. Empowered Funds LLC lifted its holdings in Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after purchasing an additional 634 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Ameriprise Financial by 14.1% during the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 72 shares during the period. Schnieders Capital Management LLC. bought a new position in Ameriprise Financial during the second quarter worth about $313,000. Finally, Gabelli Funds LLC increased its stake in shares of Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock worth $2,253,000 after purchasing an additional 2,922 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMP. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Piper Sandler increased their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Finally, BMO Capital Markets raised their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.33.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $570.06 on Friday. The firm has a market capitalization of $51.25 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.77 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The stock’s 50-day simple moving average is $507.03 and its two-hundred day simple moving average is $480.30. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the company posted $9.11 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be given a dividend of $1.70 per share. The ex-dividend date is Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial’s payout ratio is presently 16.40%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 472 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares of the company’s stock, valued at $398,517.09. The trade was a 39.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the transaction, the insider directly owned 6,780 shares in the company, valued at $3,656,793. The trade was a 54.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.