Magnetar Financial LLC Cuts Stake in Ameriprise Financial, Inc. $AMP

Magnetar Financial LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 95.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 406 shares of the financial services provider’s stock after selling 9,255 shares during the period. Magnetar Financial LLC’s holdings in Ameriprise Financial were worth $217,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Handelsbanken Fonder AB increased its position in Ameriprise Financial by 5.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 27,618 shares of the financial services provider’s stock valued at $14,741,000 after buying an additional 1,414 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Ameriprise Financial by 23,951.0% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,785 shares of the financial services provider’s stock valued at $6,421,000 after acquiring an additional 11,736 shares in the last quarter. Prudential PLC raised its position in shares of Ameriprise Financial by 50.8% in the 2nd quarter. Prudential PLC now owns 1,875 shares of the financial services provider’s stock valued at $1,001,000 after purchasing an additional 632 shares during the last quarter. Catalyst Funds Management Pty Ltd boosted its stake in Ameriprise Financial by 9.3% in the 2nd quarter. Catalyst Funds Management Pty Ltd now owns 590 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 50 shares in the last quarter. Finally, Winnow Wealth LLC acquired a new stake in Ameriprise Financial in the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of the business’s 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 transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the sale, the director directly owned 7,500 shares in the company, valued at $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.73% of the stock is owned by insiders.

Ameriprise Financial Stock Performance

NYSE AMP opened at $453.56 on Thursday. The firm has a market capitalization of $42.14 billion, a P/E ratio of 14.11, a PEG ratio of 1.07 and a beta of 1.28. The stock has a 50-day simple moving average of $473.07 and a two-hundred day simple moving average of $500.71. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping the consensus estimate 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%.Ameriprise Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $9.02 earnings per share. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.55%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. Argus reduced their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Royal Bank Of Canada cut their price objective on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. One investment 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.