Sanibel Captiva Trust Company Inc. Sells 270 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Sanibel Captiva Trust Company Inc. trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 7.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,209 shares of the financial services provider’s stock after selling 270 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Ameriprise Financial were worth $1,371,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp increased its position in shares of Ameriprise Financial by 0.6% in the fourth quarter. Mackenzie Financial Corp now owns 10,114 shares of the financial services provider’s stock valued at $3,842,000 after acquiring an additional 62 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Ameriprise Financial by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 9,264 shares of the financial services provider’s stock valued at $3,519,000 after acquiring an additional 662 shares during the last quarter. Fidelis Capital Partners LLC increased its position in shares of Ameriprise Financial by 5.1% in the fourth quarter. Fidelis Capital Partners LLC now owns 656 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 32 shares during the last quarter. HTLF Bank acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $237,000. Finally, Zhang Financial LLC increased its position in shares of Ameriprise Financial by 13.3% in the fourth quarter. Zhang Financial LLC now owns 1,724 shares of the financial services provider’s stock valued at $655,000 after acquiring an additional 203 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded down $1.31 on Tuesday, hitting $434.03. The stock had a trading volume of 384,888 shares, compared to its average volume of 488,915. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $449.94. The business’s 50 day moving average is $426.11 and its two-hundred day moving average is $421.64. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock has a market cap of $43.11 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the business earned $7.44 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts forecast that Ameriprise Financial, Inc. will post 34.77 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AMP shares. UBS Group lowered their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley lowered their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Argus boosted their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada boosted their price target on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. One equities 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 stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $464.33.

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.