Parcion Private Wealth LLC Trims Holdings in Ameriprise Financial, Inc. $AMP

Parcion Private Wealth LLC cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 14.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 645 shares of the financial services provider’s stock after selling 111 shares during the quarter. Parcion Private Wealth LLC’s holdings in Ameriprise Financial were worth $344,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in AMP. TD Capital Management LLC grew its position in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in shares of Ameriprise Financial in the first quarter valued at $29,000. Salomon & Ludwin LLC grew its position in shares of Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 30 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of Ameriprise Financial in the first quarter valued at $33,000. Finally, Hager Investment Management Services LLC grew its position in shares of Ameriprise Financial by 114.3% in the second quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 40 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $472.46 on Thursday. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The business has a 50-day simple moving average of $495.56 and a 200 day simple moving average of $501.60. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock has a market cap of $44.54 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.07 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the previous year, the business earned $8.72 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. On average, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMP. Royal Bank Of Canada lifted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. BMO Capital Markets assumed coverage on Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. Morgan Stanley reduced their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. Evercore ISI reduced their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average price target of $539.50.

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.