Charles Schwab Investment Management Inc. Sells 6,095 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Charles Schwab Investment Management Inc. reduced its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 588,287 shares of the financial services provider’s stock after selling 6,095 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Ameriprise Financial were worth $180,310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Raleigh Capital Management Inc. raised its holdings in Ameriprise Financial by 145.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 81 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 48 shares during the period. OLD Mission Capital LLC bought a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $25,000. Dark Forest Capital Management LP purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $27,000. Financial Freedom LLC bought a new stake in Ameriprise Financial during the 4th quarter worth approximately $27,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 82.62% of the company’s stock.

Insiders Place Their Bets

In other news, CEO James M. Cracchiolo sold 9,616 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $354.00, for a total value of $3,404,064.00. Following the completion of the sale, the chief executive officer now directly owns 157,103 shares of the company’s stock, valued at approximately $55,614,462. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,042 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $351.55, for a total value of $4,584,915.10. Following the transaction, the chief financial officer now owns 8,048 shares of the company’s stock, valued at approximately $2,829,274.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James M. Cracchiolo sold 9,616 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $354.00, for a total transaction of $3,404,064.00. Following the completion of the transaction, the chief executive officer now owns 157,103 shares in the company, valued at $55,614,462. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMP. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $350.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Friday, August 18th. StockNews.com initiated coverage on shares of Ameriprise Financial in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $385.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $358.22.

Ameriprise Financial Stock Down 0.1 %

NYSE AMP opened at $340.14 on Thursday. The stock has a 50 day moving average price of $339.41 and a 200-day moving average price of $321.12. Ameriprise Financial, Inc. has a one year low of $249.35 and a one year high of $358.02. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $34.91 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.64 and a beta of 1.47.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $7.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.29 by $0.15. Ameriprise Financial had a net margin of 15.94% and a return on equity of 82.23%. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the prior year, the firm earned $5.81 earnings per share. Ameriprise Financial’s revenue was up 11.2% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 29.94 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has initiated a share repurchase plan on Wednesday, July 26th that permits the company to repurchase $3.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 9.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were given a $1.35 dividend. The ex-dividend date was Friday, August 4th. This represents a $5.40 annualized dividend and a yield of 1.59%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $0.10. Ameriprise Financial’s dividend payout ratio (DPR) is currently 25.36%.

Ameriprise Financial Company Profile

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.