Fulton Bank N.A. Trims Stock Holdings in Ameriprise Financial, Inc. $AMP

Fulton Bank N.A. reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 7.3% during the 2nd quarter, Holdings Channel reports. The fund owned 7,082 shares of the financial services provider’s stock after selling 558 shares during the period. Fulton Bank N.A.’s holdings in Ameriprise Financial were worth $3,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AMP. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at $26,000. TD Capital Management LLC lifted 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 worth $29,000 after buying an additional 51 shares during the period. Wealth Preservation Advisors LLC purchased a new position in Ameriprise Financial during the first quarter worth about $29,000. Sunbeam Capital Management LLC purchased a new position in Ameriprise Financial during the fourth quarter worth about $31,000. Finally, WPG Advisers LLC purchased a new position in Ameriprise Financial during the first quarter worth about $33,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on AMP. 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 increased their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Raymond James Financial raised their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. Wall Street Zen raised Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Finally, Morgan Stanley downgraded Ameriprise Financial from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $534.71.

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial 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 transaction, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $485.97 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $45.81 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.03 and a beta of 1.27. The stock’s fifty day simple moving average is $512.67 and its 200 day simple moving average is $502.15. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $8.72 EPS. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is currently 19.91%.

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.