Mount Yale Investment Advisors LLC Lowers Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Mount Yale Investment Advisors LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 4,103 shares of the financial services provider’s stock after selling 172 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Ameriprise Financial were worth $1,928,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after acquiring an additional 110,319 shares during the period. Legal & General Group Plc increased its holdings in Ameriprise Financial by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after acquiring an additional 11,060 shares in the last quarter. TD Asset Management Inc raised its position in Ameriprise Financial by 18.8% during the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after acquiring an additional 111,973 shares during the period. Finally, AGF Management Ltd. lifted its holdings in Ameriprise Financial by 35.4% during the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after purchasing an additional 131,844 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Piper Sandler decreased their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $480.44.

Ameriprise Financial Stock Down 3.3 %

Shares of NYSE:AMP opened at $503.24 on Friday. The firm’s 50-day moving average is $464.19 and its two-hundred day moving average is $439.06. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $524.89. The firm has a market capitalization of $49.98 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business earned $7.44 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.18%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insiders Place Their Bets

In related news, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is owned by company insiders.

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.