17 Capital Partners LLC Has $1.88 Million Position in Ameriprise Financial, Inc. $AMP

17 Capital Partners LLC decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 34.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,516 shares of the financial services provider’s stock after selling 1,889 shares during the quarter. Ameriprise Financial accounts for approximately 1.1% of 17 Capital Partners LLC’s holdings, making the stock its 16th biggest holding. 17 Capital Partners LLC’s holdings in Ameriprise Financial were worth $1,877,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Knights of Columbus Asset Advisors LLC raised its stake in Ameriprise Financial by 4.2% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 16,735 shares of the financial services provider’s stock worth $8,932,000 after acquiring an additional 667 shares in the last quarter. NorthRock Partners LLC lifted its holdings in Ameriprise Financial by 8.9% during the 2nd quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock valued at $5,847,000 after purchasing an additional 897 shares during the last quarter. Ascent Group LLC acquired a new position in Ameriprise Financial in the first quarter valued at about $371,000. Advisory Alpha LLC acquired a new stake in shares of Ameriprise Financial during the first quarter worth approximately $265,000. Finally, Voya Investment Management LLC raised its stake 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 acquiring an additional 4,232 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Royal Bank Of Canada lowered their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Keefe, Bruyette & Woods reduced 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 research report on Monday, November 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Finally, Argus dropped their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $533.22.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $449.67 on Thursday. The firm’s 50 day moving average price is $477.38 and its two-hundred day moving average price is $501.94. The stock has a market cap of $41.78 billion, a PE ratio of 13.99, a PEG 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.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same period last year, the company earned $9.02 EPS. The firm’s 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be given 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 is Monday, November 10th. Ameriprise Financial’s payout ratio is presently 17.55%.

Insider Activity at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by company 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.