Candriam S.C.A. Sells 36,281 Shares of Ameriprise Financial, Inc. $AMP

Candriam S.C.A. lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 51.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 34,723 shares of the financial services provider’s stock after selling 36,281 shares during the period. Candriam S.C.A.’s holdings in Ameriprise Financial were worth $18,533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. grew 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 buying an additional 1,023,002 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Ameriprise Financial by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock valued at $1,500,115,000 after acquiring an additional 47,584 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Ameriprise Financial by 55.0% during 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 acquiring an additional 796,925 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ameriprise Financial by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after purchasing an additional 266,631 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Ameriprise Financial by 3.1% during the second quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock worth $629,650,000 after purchasing an additional 35,500 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $459.17 on Friday. The company has a 50-day simple moving average of $480.91 and a two-hundred day simple moving average of $502.44. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The firm has a market cap of $42.66 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.07 and a beta of 1.28. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.02 EPS. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be given a $1.60 dividend. The ex-dividend date is Monday, November 10th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s payout ratio is presently 17.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Royal Bank Of Canada lowered their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. BMO Capital Markets started coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective for the company. Argus reduced their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $533.22.

Insider Buying and Selling

In other news, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction on 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 approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.73% of the company’s stock.

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.