Carret Asset Management LLC Sells 150 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Carret Asset Management LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,033 shares of the financial services provider’s stock after selling 150 shares during the period. Carret Asset Management LLC’s holdings in Ameriprise Financial were worth $3,304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AMP. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after acquiring an additional 603,267 shares during the period. Swedbank AB purchased a new stake in Ameriprise Financial during the first quarter valued at approximately $108,938,000. Maj Invest Holding A S purchased a new stake in Ameriprise Financial during the 3rd quarter valued at $98,742,000. AGF Management Ltd. lifted its holdings in shares of Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after acquiring an additional 131,844 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after purchasing an additional 111,973 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $504.48 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The company’s fifty day moving average price is $467.23 and its 200 day moving average price is $440.06. The stock has a market capitalization of $50.11 billion, a P/E ratio of 17.17, a P/E/G ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a 1 year low of $307.57 and a 1 year high of $524.89.

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

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.17%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday. Finally, UBS Group upped their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $482.11.

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.