Private Client Services LLC Decreases Stake in Ameriprise Financial, Inc. $AMP

Private Client Services LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 7.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 441 shares of the financial services provider’s stock after selling 36 shares during the period. Private Client Services LLC’s holdings in Ameriprise Financial were worth $235,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Ameriprise Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $2,114,000 after purchasing an additional 83 shares in the last quarter. Spire Wealth Management raised its stake in shares of Ameriprise Financial by 91.6% in the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider’s stock valued at $692,000 after purchasing an additional 683 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Ameriprise Financial by 488.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 806 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ameriprise Financial by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider’s stock valued at $12,055,000 after purchasing an additional 1,433 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Ameriprise Financial by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider’s stock valued at $2,864,000 after purchasing an additional 420 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial upped their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. Morgan Stanley lowered shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Royal Bank Of Canada increased their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $534.71.

Insider Buying and Selling at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Price Performance

NYSE AMP opened at $497.15 on Friday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $46.87 billion, a PE ratio of 15.47, a P/E/G ratio of 1.07 and a beta of 1.27. The company’s 50 day simple moving average is $515.73 and its 200 day simple moving average is $502.89.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $8.72 earnings per share. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is presently 19.91%.

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.