QRG Capital Management Inc. Decreases Stock Position in Ameriprise Financial, Inc. $AMP

QRG Capital Management Inc. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 39.5% during the third quarter, HoldingsChannel reports. The firm owned 15,338 shares of the financial services provider’s stock after selling 10,014 shares during the period. QRG Capital Management Inc.’s holdings in Ameriprise Financial were worth $7,535,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMP. Brighton Jones LLC lifted its holdings in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after buying an additional 50 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after acquiring an additional 634 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Ameriprise Financial by 14.1% during the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 72 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Ameriprise Financial by 0.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,338 shares of the financial services provider’s stock worth $6,051,000 after acquiring an additional 92 shares during the last quarter. Finally, Grove Bank & Trust lifted its stake in shares of Ameriprise Financial by 4.1% in the second quarter. Grove Bank & Trust now owns 844 shares of the financial services provider’s stock worth $450,000 after acquiring an additional 33 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $509.02 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The company has a fifty day moving average price of $480.76 and a two-hundred day moving average price of $494.26. The company has a market cap of $47.29 billion, a PE ratio of 13.96, a P/E/G ratio of 1.32 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period last year, the firm posted $9.02 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. Royal Bank Of Canada cut their price target on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Argus decreased their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Finally, Evercore ISI cut their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $528.75.

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.