American International Group Inc. Sells 608 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

American International Group Inc. lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,172 shares of the financial services provider’s stock after selling 608 shares during the period. American International Group Inc.’s holdings in Ameriprise Financial were worth $13,229,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMP. Retirement Group LLC bought a new stake in Ameriprise Financial in the first quarter valued at approximately $25,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial in the first quarter valued at approximately $28,000. Sound Income Strategies LLC bought a new stake in Ameriprise Financial in the first quarter valued at approximately $32,000. Annapolis Financial Services LLC raised its stake in Ameriprise Financial by 928.6% in the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after buying an additional 65 shares during the period. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at approximately $34,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Argus upped their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. UBS Group decreased their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Royal Bank of Canada upped their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Evercore ISI upped their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $462.89.

Ameriprise Financial Price Performance

NYSE:AMP traded up $20.02 during trading hours on Thursday, reaching $444.27. 382,682 shares of the company were exchanged, compared to its average volume of 486,512. The company has a market capitalization of $44.12 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.66 and a beta of 1.37. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $449.94. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50 day moving average of $431.72 and a 200 day moving average of $417.11.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.44 earnings per share. Research analysts forecast that Ameriprise Financial, Inc. will post 34.91 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.33%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Ameriprise Financial Company 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.