Envestnet Portfolio Solutions Inc. Has $15.79 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Envestnet Portfolio Solutions Inc. cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 29,661 shares of the financial services provider’s stock after selling 1,359 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Ameriprise Financial were worth $15,792,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Howard Capital Management Group LLC boosted its holdings in shares of Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after buying an additional 178 shares during the last quarter. Harbour Investments Inc. raised its position in Ameriprise Financial by 5.5% during the third quarter. Harbour Investments Inc. now owns 1,006 shares of the financial services provider’s stock worth $472,000 after acquiring an additional 52 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Ameriprise Financial in the third quarter valued at $503,000. Metis Global Partners LLC increased its stake in shares of Ameriprise Financial by 1.3% during the 3rd quarter. Metis Global Partners LLC now owns 3,443 shares of the financial services provider’s stock worth $1,618,000 after purchasing an additional 43 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in shares of Ameriprise Financial by 0.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,513 shares of the financial services provider’s stock valued at $1,650,000 after purchasing an additional 26 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Performance

NYSE AMP opened at $485.94 on Monday. The firm has a 50-day moving average price of $531.56 and a two-hundred day moving average price of $519.64. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a market capitalization of $46.71 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Insider Activity at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 over the last quarter. 0.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on AMP shares. Piper Sandler lifted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $514.89.

About Ameriprise Financial

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.