Argent Capital Management LLC Has $23.21 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Argent Capital Management LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,399 shares of the financial services provider’s stock after selling 1,241 shares during the quarter. Argent Capital Management LLC’s holdings in Ameriprise Financial were worth $23,208,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after acquiring an additional 603,267 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after buying an additional 110,319 shares in the last quarter. Legal & General Group Plc raised its stake in Ameriprise Financial by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after buying an additional 11,060 shares during the period. TD Asset Management Inc boosted its holdings in Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after acquiring an additional 111,973 shares in the last quarter. Finally, AGF Management Ltd. increased its holdings in shares of Ameriprise Financial by 35.4% during the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after acquiring an additional 131,844 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock traded down $19.43 during trading on Thursday, hitting $501.04. The company’s stock had a trading volume of 267,261 shares, compared to its average volume of 469,340. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The company has a market cap of $49.77 billion, a PE ratio of 16.78, a P/E/G ratio of 0.81 and a beta of 1.35. The business has a fifty day moving average of $464.19 and a 200-day moving average of $439.06. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $524.89.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.44 EPS. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 34.92 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, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.18%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. UBS Group boosted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $480.44.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.73% of the company’s stock.

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.