Amundi Decreases Position in Ameriprise Financial, Inc. $AMP

Amundi lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 22.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 382,219 shares of the financial services provider’s stock after selling 108,947 shares during the quarter. Amundi owned 0.41% of Ameriprise Financial worth $207,331,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Ameriprise Financial by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock valued at $6,635,471,000 after acquiring an additional 111,386 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after buying an additional 446,080 shares during the period. Geode Capital Management LLC increased its stake in shares of Ameriprise Financial by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock valued at $1,500,115,000 after acquiring an additional 47,584 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Ameriprise Financial by 55.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after acquiring an additional 796,925 shares during the period. Finally, Norges Bank purchased a new position in shares of Ameriprise Financial during the 2nd quarter worth about $693,736,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMP. Evercore ISI lowered their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Royal Bank Of Canada lowered 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 note on Monday, November 3rd. BMO Capital Markets began coverage on Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Thursday. Finally, Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $533.22.

Ameriprise Financial Stock Up 0.6%

Shares of Ameriprise Financial stock opened at $476.91 on Friday. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The stock has a market cap of $44.31 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.20 and a beta of 1.26. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average price of $468.90 and a 200 day moving average price of $497.93.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The company 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 posted $9.02 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial’s payout ratio is 17.55%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the sale, the director owned 7,500 shares of the company’s stock, valued at $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by corporate 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.