Savant Capital LLC Sells 4,883 Shares of Ameriprise Financial, Inc. $AMP

Savant Capital LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 42.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,572 shares of the financial services provider’s stock after selling 4,883 shares during the quarter. Savant Capital LLC’s holdings in Ameriprise Financial were worth $3,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AMP. Whipplewood Advisors LLC raised its holdings in 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 during the last quarter. TD Capital Management LLC raised its stake in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in shares of Ameriprise Financial during the first quarter valued at $29,000. Salomon & Ludwin LLC boosted its position in shares of Ameriprise Financial by 115.4% during the second 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 during the last quarter. Finally, WPG Advisers LLC bought a new stake in Ameriprise Financial in the 1st quarter worth about $33,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the topic of several research analyst reports. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Evercore ISI decreased their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Raymond James Financial raised their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods reduced 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. Finally, Morgan Stanley dropped their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $530.63.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $461.68 on Monday. The company has a market capitalization of $42.89 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The firm’s 50 day simple moving average is $484.77 and its two-hundred day simple moving average is $503.08. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter in the prior year, the firm posted $9.02 EPS. Ameriprise Financial’s quarterly revenue was up 9.0% compared to the same quarter last year. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

Insider Activity at Ameriprise Financial

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

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.