Parkside Financial Bank & Trust Increases Stock Holdings in Ameriprise Financial, Inc. $AMP

Parkside Financial Bank & Trust boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 20.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,224 shares of the financial services provider’s stock after acquiring an additional 204 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Ameriprise Financial were worth $653,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Knights of Columbus Asset Advisors LLC grew its holdings in Ameriprise Financial by 4.2% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 16,735 shares of the financial services provider’s stock valued at $8,932,000 after buying an additional 667 shares in the last quarter. NorthRock Partners LLC raised its holdings in shares of Ameriprise Financial by 8.9% during the 2nd quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock worth $5,847,000 after acquiring an additional 897 shares during the period. Ascent Group LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter worth $371,000. Advisory Alpha LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter valued at about $265,000. Finally, Voya Investment Management LLC grew its holdings in shares of Ameriprise Financial by 4.0% in the first quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock valued at $53,731,000 after purchasing an additional 4,232 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP opened at $461.68 on Friday. The firm has a 50-day simple moving average of $484.77 and a two-hundred day simple moving average of $502.86. The stock has a market cap of $42.89 billion, a PE ratio of 14.36, a P/E/G ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62.

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

Ameriprise Financial Dividend Announcement

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

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated 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 approximately $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. The trade was 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 owned by corporate insiders.

Wall Street Analyst Weigh In

AMP has been the subject of several recent analyst reports. Royal Bank Of Canada cut their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Evercore ISI dropped their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Keefe, Bruyette & Woods cut their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. 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, 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 objective for the company. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $530.63.

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.