Vanguard Group Inc. Sells 66,097 Shares of Ameriprise Financial, Inc. $AMP

Vanguard Group Inc. trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,366,164 shares of the financial services provider’s stock after selling 66,097 shares during the quarter. Vanguard Group Inc. owned 13.31% of Ameriprise Financial worth $6,074,878,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC grew its stake in shares of Ameriprise Financial by 0.5% during the second quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock worth $2,186,000 after buying an additional 20 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its position in Ameriprise Financial by 2.9% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock valued at $391,000 after acquiring an additional 21 shares during the period. CreativeOne Wealth LLC raised its stake in shares of Ameriprise Financial by 2.3% during the second quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock valued at $497,000 after acquiring an additional 21 shares during the last quarter. Rexford Capital Inc. grew its stake in shares of Ameriprise Financial by 20.6% in the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 21 shares during the last quarter. Finally, Mutual Advisors LLC grew its position in shares of Ameriprise Financial by 4.5% in the 2nd quarter. Mutual Advisors LLC now owns 511 shares of the financial services provider’s stock valued at $266,000 after buying an additional 22 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Activity at Ameriprise Financial

In other news, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. This trade represents a 29.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the transaction, the director owned 7,500 shares in the company, valued at approximately $3,382,050. The trade was a 16.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,158 shares of company stock valued at $9,675,085 in the last three months. Insiders own 0.57% of the company’s stock.

Ameriprise Financial Stock Performance

AMP stock opened at $473.38 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm has a market cap of $43.98 billion, a PE ratio of 13.02, a P/E/G ratio of 1.11 and a beta of 1.26. The business has a 50 day moving average of $502.32 and a 200-day moving average of $490.47. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $552.43.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the firm earned $9.54 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s payout ratio is currently 17.60%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Argus reduced their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $555.67.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.