First Trust Advisors LP Decreases Position in Ameriprise Financial, Inc. $AMP

First Trust Advisors LP trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 26.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 412,966 shares of the financial services provider’s stock after selling 150,368 shares during the quarter. First Trust Advisors LP owned 0.44% of Ameriprise Financial worth $220,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Trust Co. of Vermont grew its stake in shares of Ameriprise Financial by 0.6% during the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock worth $1,618,000 after acquiring an additional 19 shares during the last quarter. Plancorp LLC boosted its stake in Ameriprise Financial by 4.8% in the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 20 shares in the last quarter. Old Port Advisors grew its position in Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 20 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in Ameriprise Financial by 0.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock valued at $2,186,000 after purchasing an additional 20 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Ameriprise Financial by 2.9% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock worth $391,000 after buying an additional 21 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’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 transaction, the director directly owned 7,500 shares of the company’s stock, valued at $3,382,050. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 0.9%

Shares of AMP opened at $474.11 on Friday. The stock has a 50 day moving average price of $469.34 and a 200 day moving average price of $498.38. 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 0.88, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market capitalization of $44.05 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.18 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter in the previous year, the company posted $9.02 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMP shares. Royal Bank Of Canada dropped their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Argus lowered their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Friday, November 28th. Evercore ISI reduced their price objective 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. Finally, Morgan Stanley decreased their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $533.22.

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.