Ethic Inc. Sells 1,538 Shares of Ameriprise Financial, Inc. $AMP

Ethic Inc. decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.5% during the third quarter, Holdings Channel.com reports. The firm owned 16,537 shares of the financial services provider’s stock after selling 1,538 shares during the period. Ethic Inc.’s holdings in Ameriprise Financial were worth $8,124,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Ameriprise Financial by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after buying an additional 111,386 shares during the last quarter. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 7.7% in the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after acquiring an additional 446,080 shares in the last quarter. Geode Capital Management LLC increased its stake in Ameriprise Financial by 1.7% during the second quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock worth $1,500,115,000 after acquiring an additional 47,584 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Ameriprise Financial by 55.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock valued at $1,086,724,000 after purchasing an additional 796,925 shares during the period. Finally, Norges Bank bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at approximately $693,736,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Down 0.9%

AMP stock opened at $497.23 on Tuesday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The firm’s 50-day moving average is $471.10 and its 200 day moving average is $495.67. The company has a market capitalization of $46.20 billion, a PE ratio of 13.63, a P/E/G ratio of 1.34 and a beta of 1.26. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping 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 20.12% and a return on equity of 64.97%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.02 EPS. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, November 10th. Ameriprise Financial’s dividend payout ratio is currently 17.55%.

Analyst Ratings Changes

Several research firms have recently weighed in on AMP. BMO Capital Markets initiated coverage on Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 target price on the stock. Argus cut their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a report on Monday, December 22nd. Evercore ISI dropped their price target on shares of 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. Finally, Royal Bank Of Canada reduced their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $533.33.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the transaction, the director owned 7,500 shares in the company, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.57% of the company’s stock.

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.