Rhumbline Advisers Trims Stock Position in Ameriprise Financial, Inc. $AMP

Rhumbline Advisers trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 212,542 shares of the financial services provider’s stock after selling 1,818 shares during the quarter. Rhumbline Advisers’ holdings in Ameriprise Financial were worth $113,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in shares of Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after buying an additional 50 shares during the last quarter. Wedbush Securities Inc. raised its position in Ameriprise Financial by 6.6% during the first quarter. Wedbush Securities Inc. now owns 1,479 shares of the financial services provider’s stock valued at $716,000 after acquiring an additional 92 shares in the last quarter. AE Wealth Management LLC lifted its holdings in Ameriprise Financial by 8.0% in the first quarter. AE Wealth Management LLC now owns 1,851 shares of the financial services provider’s stock valued at $896,000 after acquiring an additional 137 shares during the period. Pinnacle Associates Ltd. boosted its position in Ameriprise Financial by 1.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 21 shares in the last quarter. Finally, Brookwood Investment Group LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $290,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 1.3%

AMP stock opened at $447.55 on Friday. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The business’s 50-day moving average is $475.21 and its 200 day moving average is $501.47. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock has a market cap of $41.58 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.07 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. The firm had revenue of $4.73 billion for 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%.The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $9.02 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Buying and Selling at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada decreased their target price on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. Argus dropped their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $533.22.

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.