SG Americas Securities LLC Sells 2,680 Shares of Ameriprise Financial, Inc. $AMP

SG Americas Securities LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 33.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,281 shares of the financial services provider’s stock after selling 2,680 shares during the quarter. SG Americas Securities LLC’s holdings in Ameriprise Financial were worth $2,819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMP. Knights of Columbus Asset Advisors LLC raised its position in Ameriprise Financial by 4.2% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 16,735 shares of the financial services provider’s stock valued at $8,932,000 after purchasing an additional 667 shares during the period. NorthRock Partners LLC boosted its holdings in shares of Ameriprise Financial by 8.9% in the 2nd quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock worth $5,847,000 after purchasing an additional 897 shares during the period. Ascent Group LLC bought a new position in shares of Ameriprise Financial during the 1st quarter valued at approximately $371,000. Advisory Alpha LLC bought a new stake in Ameriprise Financial in the first quarter worth $265,000. Finally, Voya Investment Management LLC boosted its stake in Ameriprise Financial by 4.0% during the first quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock worth $53,731,000 after buying an additional 4,232 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $442.88 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average price is $478.22 and its 200-day moving average price is $502.31. The firm has a market cap of $41.15 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05.

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. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.51 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $9.02 EPS. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company 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 dividend of $1.60 per share. 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%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Argus decreased their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. William Blair cut Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Finally, Evercore ISI decreased their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued 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, the company currently has a consensus rating of “Hold” and an average target price of $533.22.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by company insiders.

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.