Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Brookstone Capital Management

Brookstone Capital Management lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMPGet Rating) by 34.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,811 shares of the financial services provider’s stock after selling 1,495 shares during the quarter. Brookstone Capital Management’s holdings in Ameriprise Financial were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. CAPROCK Group Inc. grew its position in shares of Ameriprise Financial by 2.6% during the first quarter. CAPROCK Group Inc. now owns 1,400 shares of the financial services provider’s stock worth $421,000 after buying an additional 35 shares in the last quarter. Peoples Financial Services CORP. lifted its stake in Ameriprise Financial by 4.7% during the first quarter. Peoples Financial Services CORP. now owns 895 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 40 shares during the last quarter. National Asset Management Inc. lifted its stake in Ameriprise Financial by 1.9% during the first quarter. National Asset Management Inc. now owns 2,276 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 42 shares during the last quarter. Buckingham Strategic Wealth LLC lifted its stake in Ameriprise Financial by 1.8% during the first quarter. Buckingham Strategic Wealth LLC now owns 2,529 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 44 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in Ameriprise Financial by 2.5% during the fourth quarter. Synovus Financial Corp now owns 1,905 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 82.92% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $277.01, for a total transaction of $277,010.00. Following the completion of the sale, the director now directly owns 16,500 shares in the company, valued at approximately $4,570,665. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AMP has been the topic of several research analyst reports. Piper Sandler reduced their price objective on Ameriprise Financial from $231.00 to $220.00 and set an “underweight” rating on the stock in a research note on Friday, July 15th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $325.00 to $270.00 in a research note on Friday, June 24th. Bank of America began coverage on Ameriprise Financial in a research note on Wednesday, September 7th. They set a “buy” rating and a $336.00 price objective on the stock. Evercore ISI cut their target price on Ameriprise Financial from $364.00 to $320.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 6th. Finally, Morgan Stanley raised their target price on Ameriprise Financial from $270.00 to $295.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $316.70.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $264.48 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $219.99 and a fifty-two week high of $332.37. The firm’s 50-day simple moving average is $269.67 and its 200 day simple moving average is $269.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.14. The stock has a market cap of $28.61 billion, a P/E ratio of 9.52, a P/E/G ratio of 0.83 and a beta of 1.48.

Ameriprise Financial (NYSE:AMPGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $5.81 earnings per share for the quarter, beating analysts’ consensus estimates of $5.73 by $0.08. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Ameriprise Financial had a net margin of 23.49% and a return on equity of 53.86%. During the same period in the previous year, the business earned $5.27 earnings per share. Equities analysts expect that Ameriprise Financial, Inc. will post 23.97 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were paid a $1.25 dividend. The ex-dividend date was Friday, August 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.89%. Ameriprise Financial’s dividend payout ratio is currently 18.01%.

About Ameriprise Financial

(Get Rating)

Ameriprise Financial, Inc, through 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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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