American International Group Inc. Sells 608 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

American International Group Inc. trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,172 shares of the financial services provider’s stock after selling 608 shares during the period. American International Group Inc.’s holdings in Ameriprise Financial were worth $13,229,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Signaturefd LLC grew its position in Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after acquiring an additional 26 shares in the last quarter. Aua Capital Management LLC lifted its position in Ameriprise Financial by 4.7% during the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 27 shares during the last quarter. Gratus Wealth Advisors LLC boosted its holdings in Ameriprise Financial by 1.5% during the first quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 27 shares during the period. Resonant Capital Advisors LLC grew its position in shares of Ameriprise Financial by 4.7% in the first quarter. Resonant Capital Advisors LLC now owns 619 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 28 shares during the last quarter. Finally, PDS Planning Inc grew its position in shares of Ameriprise Financial by 3.7% in the first quarter. PDS Planning Inc now owns 775 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 28 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded up $20.02 during trading on Thursday, hitting $444.27. 382,682 shares of the stock were exchanged, compared to its average volume of 486,512. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $449.94. The company has a market capitalization of $44.12 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. The company’s fifty day simple moving average is $431.72 and its 200-day simple moving average is $417.11. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. Ameriprise Financial’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $7.44 EPS. Sell-side analysts expect that Ameriprise Financial, Inc. will post 34.91 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.33%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on AMP. UBS Group decreased their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Morgan Stanley raised their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. The Goldman Sachs Group raised their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Royal Bank of Canada raised their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group raised their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $462.89.

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.