Ameriprise Financial, Inc. $AMP Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,953 shares of the financial services provider’s stock after selling 2,578 shares during the quarter. Ameriprise Financial comprises about 1.2% of Welch & Forbes LLC’s portfolio, making the stock its 26th biggest holding. Welch & Forbes LLC’s holdings in Ameriprise Financial were worth $93,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of AMP. NorthRock Partners LLC lifted its position in shares of Ameriprise Financial by 8.9% during the second quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock worth $5,847,000 after purchasing an additional 897 shares in the last quarter. Ascent Group LLC acquired a new stake in shares of Ameriprise Financial during the first quarter worth about $371,000. Advisory Alpha LLC acquired a new stake in shares of Ameriprise Financial during the first quarter worth about $265,000. Voya Investment Management LLC lifted its position in shares of Ameriprise Financial by 4.0% during the first quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock worth $53,731,000 after purchasing an additional 4,232 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Ameriprise Financial during the first quarter worth about $6,439,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target on the stock. Royal Bank Of Canada upped their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Raymond James Financial upped their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $539.50.

Insider Activity at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $452.91 on Friday. The firm has a market capitalization of $42.70 billion, a P/E ratio of 14.09, a P/E/G ratio of 1.07 and a beta of 1.26. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. 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 firm’s 50 day moving average is $490.69 and its two-hundred day moving average is $503.06.

Ameriprise Financial (NYSE:AMP) last announced 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 company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $9.02 earnings per share. 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 declared a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, November 10th. Ameriprise Financial’s dividend payout ratio is currently 17.55%.

About Ameriprise Financial

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.