Ameriprise Financial, Inc. $AMP Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,198 shares of the financial services provider’s stock after selling 394 shares during the period. First Horizon Advisors Inc.’s holdings in Ameriprise Financial were worth $1,707,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AMP. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 21.3% in the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock valued at $2,819,900,000 after buying an additional 1,023,002 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Ameriprise Financial by 55.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after purchasing an additional 796,925 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after purchasing an additional 266,631 shares during the period. Nuveen LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter valued at about $469,334,000. Finally, Royal Bank of Canada lifted its stake in shares of Ameriprise Financial by 1.1% in the first quarter. Royal Bank of Canada now owns 733,036 shares of the financial services provider’s stock valued at $354,870,000 after purchasing an additional 7,840 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMP. BMO Capital Markets started coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 target price on the stock. Morgan Stanley decreased their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Keefe, Bruyette & Woods dropped their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday. William Blair cut Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Finally, Raymond James Financial boosted their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $530.63.

Ameriprise Financial Price Performance

AMP stock opened at $459.16 on Thursday. The stock’s 50 day moving average price is $487.04 and its 200 day moving average price is $502.86. The firm has a market cap of $43.29 billion, a P/E ratio of 14.29, a PEG ratio of 1.07 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.51 billion. During the same period in the previous year, the firm posted $9.02 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.55%.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were 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 owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.73% of the company’s stock.

About Ameriprise Financial

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.