SG Americas Securities LLC Sells 5,180 Shares of Ameriprise Financial, Inc. $AMP

SG Americas Securities LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 16.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 26,291 shares of the financial services provider’s stock after selling 5,180 shares during the quarter. SG Americas Securities LLC’s holdings in Ameriprise Financial were worth $12,892,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $30,000. Heartwood Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the third quarter worth approximately $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $32,000. WFA of San Diego LLC bought a new stake in shares of Ameriprise Financial during the second quarter valued at approximately $36,000. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Ameriprise Financial by 76.8% in the third quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 43 shares during the period. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of several research analyst reports. Morgan Stanley increased their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Jefferies Financial Group increased their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Stock Down 2.5%

Ameriprise Financial stock opened at $436.98 on Friday. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $550.18. The business has a fifty day moving average price of $478.56 and a 200-day moving average price of $480.29. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $39.84 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.01 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period in the prior year, the company posted $9.54 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio is 17.60%.

Insider Activity

In related news, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,052,529.98. This trade represents a 55.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,658 shares of company stock worth $8,998,675 over the last 90 days. 0.73% of the stock is currently owned by corporate insiders.

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.