Rathbones Group PLC Cuts Stake in Ameriprise Financial, Inc. $AMP

Rathbones Group PLC cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 21.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,175 shares of the financial services provider’s stock after selling 321 shares during the quarter. Rathbones Group PLC’s holdings in Ameriprise Financial were worth $627,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Whipplewood Advisors LLC boosted its stake in shares of Ameriprise Financial by 71.0% in the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 22 shares during the last quarter. Salomon & Ludwin LLC raised its stake in Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 30 shares during the last quarter. TD Capital Management LLC lifted its holdings in Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth $29,000. Finally, WPG Advisers LLC purchased a new stake in shares of Ameriprise Financial during the first quarter worth $33,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William F. Truscott sold 9,929 shares of the company’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 transaction, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Raymond James Financial upped their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. BMO Capital Markets initiated coverage on Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $530.63.

Ameriprise Financial Trading Up 1.2%

AMP opened at $464.78 on Wednesday. The stock has a market capitalization of $43.18 billion, a PE ratio of 14.46, a P/E/G 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. 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 business’s 50 day moving average price is $482.70 and its 200 day moving average price is $502.97.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating 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 $4.89 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter in the previous year, the business earned $9.02 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Shareholders 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 yield of 1.4%. Ameriprise Financial’s dividend payout ratio is presently 17.55%.

About Ameriprise Financial

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.