Tectonic Advisors LLC Decreases Position in Ameriprise Financial, Inc. (NYSE:AMP)

Tectonic Advisors LLC decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,236 shares of the financial services provider’s stock after selling 128 shares during the period. Tectonic Advisors LLC’s holdings in Ameriprise Financial were worth $1,521,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AMP. Ledyard National Bank boosted its position in shares of Ameriprise Financial by 3.2% in the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 23 shares during the period. Heartland Bank & Trust Co grew its holdings in shares of Ameriprise Financial by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after purchasing an additional 24 shares during the last quarter. Portside Wealth Group LLC grew its holdings in shares of Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 25 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 26 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Ameriprise Financial by 0.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock worth $1,606,000 after acquiring an additional 26 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP William Davies sold 8,700 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. UBS Group raised their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group lifted 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. Piper Sandler lowered their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Finally, Royal Bank of Canada lifted their price target on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $480.44.

Ameriprise Financial Stock Performance

Shares of AMP opened at $503.24 on Friday. The business’s 50 day moving average is $464.19 and its two-hundred day moving average is $439.06. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $524.89. The firm has a market cap of $49.98 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 0.81 and a beta of 1.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

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

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s payout ratio is 20.15%.

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.