Legal & General Group Plc Reduces Stock Position in Ameriprise Financial, Inc. $AMP

Legal & General Group Plc trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 568,726 shares of the financial services provider’s stock after selling 36,067 shares during the period. Legal & General Group Plc owned about 0.60% of Ameriprise Financial worth $303,546,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares during the last quarter. Wedbush Securities Inc. raised its stake in shares of Ameriprise Financial by 6.6% during the 1st quarter. Wedbush Securities Inc. now owns 1,479 shares of the financial services provider’s stock worth $716,000 after buying an additional 92 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of Ameriprise Financial by 8.0% during the 1st quarter. AE Wealth Management LLC now owns 1,851 shares of the financial services provider’s stock worth $896,000 after buying an additional 137 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in shares of 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 buying an additional 21 shares in the last quarter. Finally, Brookwood Investment Group LLC acquired a new stake in Ameriprise Financial in the 1st quarter valued at about $290,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMP. Morgan Stanley cut their target price 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. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. BMO Capital Markets initiated coverage on Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target for the company. Finally, Evercore ISI cut their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $533.22.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 1.3%

AMP stock opened at $447.55 on Friday. The company has a 50 day moving average price of $475.21 and a two-hundred day moving average price of $501.47. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $41.58 billion, a P/E ratio of 13.92, a PEG ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same quarter in the prior year, the company posted $9.02 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

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

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.