Ameriprise Financial, Inc. $AMP Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 10.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,590 shares of the financial services provider’s stock after selling 184 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Ameriprise Financial were worth $849,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after acquiring an additional 1,023,002 shares during the period. Nuveen LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth about $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Ameriprise Financial by 55.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock valued at $1,086,724,000 after buying an additional 796,925 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Ameriprise Financial by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after buying an additional 266,631 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Ameriprise Financial by 78.6% during the 1st quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock worth $202,869,000 after buying an additional 189,525 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Raymond James Financial lifted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Morgan Stanley cut their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. BMO Capital Markets began coverage on Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective on the stock. Evercore ISI dropped their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $539.50.

Ameriprise Financial Price Performance

Shares of AMP opened at $472.46 on Thursday. The firm has a 50-day simple moving average of $495.56 and a two-hundred day simple moving average of $501.60. The stock has a market cap of $44.54 billion, a PE ratio of 14.70, a P/E/G ratio of 1.07 and a beta of 1.26. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year 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.

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

Insider Activity

In related news, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

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.