Ameriprise Financial, Inc. (AMP) Shares Sold by Morgan Stanley
Morgan Stanley trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 18.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,431,512 shares of the financial services provider’s stock after selling 318,752 shares during the period. Morgan Stanley owned about 1.01% of Ameriprise Financial worth $200,239,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AMP. Summit Trail Advisors LLC grew its position in Ameriprise Financial by 12,071.7% in the 1st quarter. Summit Trail Advisors LLC now owns 105,407 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 104,541 shares during the last quarter. IMA Wealth Inc. acquired a new stake in Ameriprise Financial in the 2nd quarter worth $110,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Ameriprise Financial by 8,300.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 840 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 830 shares during the last quarter. LeJeune Puetz Investment Counsel LLC acquired a new stake in Ameriprise Financial in the 2nd quarter worth $119,000. Finally, Valeo Financial Advisors LLC grew its position in Ameriprise Financial by 56.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,075 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 389 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.
AMP has been the topic of several recent research reports. Barclays decreased their target price on shares of Ameriprise Financial from $175.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Monday, July 9th. Zacks Investment Research upgraded shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Thursday, July 12th. ValuEngine lowered shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $175.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, July 25th. Finally, Sandler O’Neill set a $158.00 target price on shares of Ameriprise Financial and gave the company a “hold” rating in a research report on Wednesday, July 25th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $165.25.
Ameriprise Financial (NYSE:AMP) last issued its earnings results on Tuesday, July 24th. The financial services provider reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.09. Ameriprise Financial had a net margin of 13.91% and a return on equity of 36.15%. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the business earned $2.80 EPS. The firm’s revenue was up 5.7% on a year-over-year basis. research analysts forecast that Ameriprise Financial, Inc. will post 14.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Monday, August 6th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.44%. The ex-dividend date was Friday, August 3rd. Ameriprise Financial’s dividend payout ratio is currently 29.34%.
Ameriprise Financial Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
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