PFG Investments LLC Sells 139 Shares of Ameriprise Financial, Inc. $AMP

PFG Investments LLC trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.7% in the second quarter, Holdings Channel.com reports. The fund owned 1,295 shares of the financial services provider’s stock after selling 139 shares during the quarter. PFG Investments LLC’s holdings in Ameriprise Financial were worth $691,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in Ameriprise Financial during the first quarter worth about $29,000. TD Capital Management LLC raised its holdings in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after buying an additional 51 shares in the last quarter. WPG Advisers LLC bought a new position in shares of Ameriprise Financial during the 1st quarter worth approximately $33,000. Opal Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the 1st quarter valued at $36,000. Finally, TCTC Holdings LLC grew its position in Ameriprise Financial by 100.0% in the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 49 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.2%

Shares of NYSE AMP opened at $491.67 on Friday. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The company has a 50-day moving average of $502.93 and a two-hundred day moving average of $502.10. The company has a market cap of $46.35 billion, a PE ratio of 15.30, a P/E/G ratio of 1.11 and a beta of 1.26. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the business posted $8.72 earnings per share. Ameriprise Financial’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities 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 was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is 19.91%.

Insider Activity

In related news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial 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 sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This trade 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 company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on Ameriprise Financial in a report on Friday. They set a “market perform” rating and a $525.00 price objective for the company. Raymond James Financial lifted their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Piper Sandler lifted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Finally, Royal Bank Of Canada boosted their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $535.14.

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.