Quent Capital LLC Decreases Stake in Ameriprise Financial, Inc. $AMP

Quent Capital LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 1,853 shares of the financial services provider’s stock after selling 21 shares during the quarter. Quent Capital LLC’s holdings in Ameriprise Financial were worth $989,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of AMP. TD Capital Management LLC boosted its stake in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $29,000. WPG Advisers LLC purchased a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $33,000. Opal Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $36,000. Finally, TCTC Holdings LLC boosted its stake in shares of Ameriprise Financial by 100.0% in the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock valued at $47,000 after buying an additional 49 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMP has been the topic of a number of analyst reports. Morgan Stanley decreased their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday. Raymond James Financial lifted their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. BMO Capital Markets started coverage on Ameriprise Financial in a report on Friday. They set a “market perform” rating and a $525.00 price objective for the company. Finally, Royal Bank Of Canada lifted their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $535.14.

Insiders Place Their Bets

In other news, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction on 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 transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $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 is available through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was 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 directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $491.67 on Friday. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The stock has a market cap of $46.35 billion, a PE ratio of 15.30, a P/E/G ratio of 1.11 and a beta of 1.26. The stock has a fifty day moving average price of $502.93 and a 200 day moving average price of $502.10. 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 (NYSE:AMP) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the previous year, the firm posted $8.72 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s payout ratio is 19.91%.

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.