Ameriprise Financial, Inc. $AMP is GS Investments Inc.’s 4th Largest Position

GS Investments Inc. cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% during the 2nd quarter, Holdings Channel reports. The firm owned 15,149 shares of the financial services provider’s stock after selling 135 shares during the quarter. Ameriprise Financial makes up approximately 3.6% of GS Investments Inc.’s holdings, making the stock its 4th largest holding. GS Investments Inc.’s holdings in Ameriprise Financial were worth $8,085,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its position in shares of Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after buying an additional 22 shares in the last quarter. TD Capital Management LLC increased its position in shares of Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $29,000. Salomon & Ludwin LLC lifted its holdings in Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares during the period. Finally, WPG Advisers LLC bought a new stake in Ameriprise Financial during the first quarter worth $33,000. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMP. BMO Capital Markets assumed coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective for the company. Keefe, Bruyette & Woods cut their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Finally, Evercore ISI dropped their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $530.63.

Ameriprise Financial Trading Up 0.9%

Shares of Ameriprise Financial stock opened at $461.68 on Friday. The stock has a market capitalization of $42.89 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The stock’s 50-day simple moving average is $484.77 and its 200 day simple moving average is $502.86.

Ameriprise Financial (NYSE:AMP) last issued its 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. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $9.02 earnings per share. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

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

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the sale, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.73% of the stock is currently owned by insiders.

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.