Pallas Capital Advisors LLC Sells 600 Shares of Ameriprise Financial, Inc. $AMP

Pallas Capital Advisors LLC decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 40.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 892 shares of the financial services provider’s stock after selling 600 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Ameriprise Financial were worth $476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Ameriprise Financial in the fourth quarter worth $26,000. Sunbeam Capital Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $31,000. Wealth Preservation Advisors LLC bought a new position in shares of Ameriprise Financial during the first quarter valued at $29,000. TD Capital Management LLC increased its position in 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. Finally, WPG Advisers LLC purchased a new stake in Ameriprise Financial during the first quarter valued at $33,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of AMP opened at $488.15 on Friday. The stock’s 50 day moving average is $510.69 and its two-hundred day moving average is $501.76. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $46.02 billion, a PE ratio of 15.19, a P/E/G ratio of 1.04 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $8.72 EPS. Research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.91%.

Analysts Set New Price Targets

A number of analysts have commented on the company. William Blair cut Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Royal Bank Of Canada increased their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Piper Sandler increased their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Morgan Stanley cut Ameriprise Financial from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $534.71.

Insider Buying and Selling

In other news, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade 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 firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. This represents 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 owned by corporate insiders.

Ameriprise Financial 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.