Park Avenue Securities LLC Sells 1,804 Shares of Ameriprise Financial, Inc. $AMP

Park Avenue Securities LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 8.2% during the 3rd quarter, Holdings Channel reports. The firm owned 20,293 shares of the financial services provider’s stock after selling 1,804 shares during the quarter. Park Avenue Securities LLC’s holdings in Ameriprise Financial were worth $9,969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Whipplewood Advisors LLC lifted its position in shares of Ameriprise Financial by 71.0% in 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 holdings in Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after buying an additional 30 shares in the last quarter. Winnow Wealth LLC bought a new stake in Ameriprise Financial in the 2nd quarter worth approximately $32,000. Heartwood Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $32,000. Finally, WFA of San Diego LLC purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $36,000. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada cut their target price on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Argus dropped their price objective 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. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods decreased their target price 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. Finally, Morgan Stanley increased their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $528.75.

Ameriprise Financial Trading Down 2.4%

AMP stock opened at $497.83 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The stock has a market capitalization of $46.25 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.27 and a beta of 1.26. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.88. The firm’s fifty day simple moving average is $473.71 and its two-hundred day simple moving average is $495.31.

Ameriprise Financial (NYSE:AMP) last released its 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. The firm had revenue of $4.73 billion during 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%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $9.02 EPS. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the sale, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. This represents a 16.67% 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. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Company Profile

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.