Metis Global Partners LLC Has $2.39 Million Stock Position in Ameriprise Financial, Inc. $AMP

Metis Global Partners LLC reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,482 shares of the financial services provider’s stock after selling 369 shares during the quarter. Metis Global Partners LLC’s holdings in Ameriprise Financial were worth $2,392,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMP. Whipplewood Advisors LLC raised its holdings in Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares during the last quarter. TD Capital Management LLC grew its position in shares of Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after buying an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $29,000. Salomon & Ludwin LLC raised its stake in shares of Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares during the last quarter. Finally, WPG Advisers LLC acquired a new position in Ameriprise Financial in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Evercore ISI lowered their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Raymond James Financial increased their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. BMO Capital Markets assumed coverage on Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target on the stock. Morgan Stanley dropped their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $530.63.

Insider Activity

In related news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This represents 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.

Ameriprise Financial Price Performance

Shares of AMP opened at $461.68 on Monday. 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, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The stock has a market capitalization of $42.89 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.07 and a beta of 1.28. The company has a 50 day moving average of $484.77 and a 200-day moving average of $503.08.

Ameriprise Financial (NYSE:AMP) last announced 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. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter in the prior year, the company posted $9.02 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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