Johnson Investment Counsel Inc. Lowers Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Johnson Investment Counsel Inc. reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 21.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,803 shares of the financial services provider’s stock after selling 1,860 shares during the period. Johnson Investment Counsel Inc.’s holdings in Ameriprise Financial were worth $1,693,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Viking Global Investors LP purchased a new position in shares of Ameriprise Financial during the first quarter worth about $197,054,000. Bank of New York Mellon Corp raised its holdings in Ameriprise Financial by 43.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,514,193 shares of the financial services provider’s stock valued at $584,424,000 after acquiring an additional 757,062 shares during the last quarter. BlackRock Inc. raised its holdings in Ameriprise Financial by 7.4% in the 2nd quarter. BlackRock Inc. now owns 9,616,938 shares of the financial services provider’s stock valued at $2,393,463,000 after acquiring an additional 662,711 shares during the last quarter. FMR LLC grew its stake in shares of Ameriprise Financial by 30.5% during the 2nd quarter. FMR LLC now owns 1,515,762 shares of the financial services provider’s stock valued at $377,243,000 after buying an additional 354,421 shares during the period. Finally, AGF Investments Inc. boosted its position in Ameriprise Financial by 154.9% during the 2nd quarter. AGF Investments Inc. now owns 389,060 shares of the financial services provider’s stock worth $96,829,000 after purchasing an additional 236,402 shares during the period. Institutional investors and hedge funds own 82.21% of the company’s stock.

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 11,210 shares of the company’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $265.52, for a total transaction of $2,976,479.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 19,522 shares of the company’s stock in a transaction on Thursday, August 26th. The stock was sold at an average price of $271.39, for a total transaction of $5,298,075.58. Following the sale, the chief executive officer now directly owns 67,055 shares in the company, valued at $18,198,056.45. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

A number of equities analysts have commented on AMP shares. Wolfe Research started coverage on shares of Ameriprise Financial in a report on Tuesday. They issued an “outperform” rating and a $328.00 price objective on the stock. UBS Group upped their target price on shares of Ameriprise Financial from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 8th. increased their price objective on shares of Ameriprise Financial from $265.00 to $290.00 and gave the company a “buy” rating in a report on Monday, June 21st. Finally, Morgan Stanley restated an “equal weight” rating and set a $248.38 target price (down from $260.00) on shares of Ameriprise Financial in a report on Tuesday, July 27th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $268.34.

Shares of NYSE AMP opened at $278.35 on Thursday. The stock has a market cap of $31.66 billion, a P/E ratio of 31.81 and a beta of 1.69. The firm has a 50 day moving average price of $269.24 and a 200 day moving average price of $257.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.76. Ameriprise Financial, Inc. has a 52-week low of $155.33 and a 52-week high of $284.09.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Sunday, July 25th. The financial services provider reported $5.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.21 by $0.06. Ameriprise Financial had a net margin of 8.22% and a return on equity of 41.42%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the firm posted $2.64 earnings per share. Analysts predict that Ameriprise Financial, Inc. will post 21.75 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 20th. Stockholders of record on Monday, August 9th were given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, August 6th. Ameriprise Financial’s dividend payout ratio is presently 32.10%.

Ameriprise Financial Profile

Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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