Ferguson Wellman Capital Management Inc. Decreases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Ferguson Wellman Capital Management Inc. reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 59,946 shares of the financial services provider’s stock after selling 1,089 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Ameriprise Financial were worth $31,917,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atomi Financial Group Inc. boosted its position in shares of Ameriprise Financial by 6.6% in the 3rd quarter. Atomi Financial Group Inc. now owns 664 shares of the financial services provider’s stock worth $312,000 after buying an additional 41 shares in the last quarter. Brookstone Capital Management acquired a new position in Ameriprise Financial during the third quarter worth about $226,000. Ritholtz Wealth Management lifted its holdings in shares of Ameriprise Financial by 11.7% in the third quarter. Ritholtz Wealth Management now owns 1,964 shares of the financial services provider’s stock valued at $922,000 after purchasing an additional 206 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $108,000. Finally, CHICAGO TRUST Co NA increased its stake in shares of Ameriprise Financial by 5.8% during the 3rd quarter. CHICAGO TRUST Co NA now owns 4,290 shares of the financial services provider’s stock worth $2,015,000 after purchasing an additional 236 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Down 0.6 %

Shares of AMP stock opened at $538.59 on Monday. The firm’s 50-day simple moving average is $544.14 and its 200-day simple moving average is $502.20. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The firm has a market cap of $52.25 billion, a P/E ratio of 16.29, a PEG ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.10%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Finally, Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $510.44.

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.