Ameriprise Financial, Inc. $AMP Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 39.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,338 shares of the financial services provider’s stock after selling 10,014 shares during the period. QRG Capital Management Inc.’s holdings in Ameriprise Financial were worth $7,535,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AMP. Whipplewood Advisors LLC grew its holdings in shares of Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after buying an additional 22 shares in the last quarter. Salomon & Ludwin LLC grew its stake in Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares during the period. Winnow Wealth LLC purchased a new stake in Ameriprise Financial in the 2nd quarter worth approximately $32,000. Heartwood Wealth Advisors LLC acquired a new position in Ameriprise Financial in the 3rd quarter valued at $32,000. Finally, WFA of San Diego LLC purchased a new position in shares of Ameriprise Financial during the 2nd quarter worth $36,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMP. Keefe, Bruyette & Woods lowered their price objective 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. Evercore ISI reduced their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Argus lowered their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Royal Bank Of Canada cut their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $528.75.

Ameriprise Financial Stock Performance

NYSE AMP opened at $509.02 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The firm has a market capitalization of $47.29 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.32 and a beta of 1.26. The business’s 50-day simple moving average is $480.76 and its 200-day simple moving average is $494.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results 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. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. Ameriprise Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $9.02 earnings per share. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

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

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.73% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.