Telemus Capital LLC Trims Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Telemus Capital LLC lessened its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,704 shares of the financial services provider’s stock after selling 446 shares during the quarter. Telemus Capital LLC’s holdings in Ameriprise Financial were worth $2,167,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMP. CWM LLC increased its holdings in Ameriprise Financial by 2.9% in the 3rd quarter. CWM LLC now owns 2,433 shares of the financial services provider’s stock worth $802,000 after buying an additional 69 shares during the period. AE Wealth Management LLC boosted its holdings in shares of Ameriprise Financial by 8.3% in the 3rd quarter. AE Wealth Management LLC now owns 10,079 shares of the financial services provider’s stock valued at $3,323,000 after acquiring an additional 769 shares during the last quarter. Ronald Blue Trust Inc. increased its stake in shares of Ameriprise Financial by 11.2% in the third quarter. Ronald Blue Trust Inc. now owns 377 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 38 shares during the period. Ritholtz Wealth Management raised its holdings in shares of Ameriprise Financial by 8.1% during the third quarter. Ritholtz Wealth Management now owns 1,755 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 131 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in Ameriprise Financial during the third quarter valued at $233,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.8 %

Shares of AMP traded up $3.21 during midday trading on Monday, reaching $420.22. The stock had a trading volume of 119,593 shares, compared to its average volume of 488,437. The company has a market cap of $42.10 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 0.69 and a beta of 1.36. The company’s fifty day simple moving average is $416.89 and its two-hundred day simple moving average is $378.48. Ameriprise Financial, Inc. has a 1-year low of $279.85 and a 1-year high of $440.67. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.67 by $0.08. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the business posted $6.94 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts expect that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio (DPR) is 22.78%.

Analyst Ratings Changes

AMP has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Morgan Stanley lifted their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group lifted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Finally, Raymond James started coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $441.00.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total value of $1,546,400.00. Following the completion of the sale, the director now owns 12,500 shares in the company, valued at approximately $4,832,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction on Friday, January 26th. The shares were sold at an average price of $390.22, for a total value of $3,780,841.58. Following the transaction, the chief executive officer now directly owns 12,126 shares in the company, valued at approximately $4,731,807.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the completion of the transaction, the director now directly owns 12,500 shares in the company, valued at $4,832,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,161 shares of company stock worth $35,560,647. Insiders own 0.96% of the company’s stock.

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.