Los Angeles Capital Management LLC Trims Position in Ameriprise Financial, Inc. (NYSE:AMP)

Los Angeles Capital Management LLC cut its position in Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,294 shares of the financial services provider’s stock after selling 393 shares during the period. Los Angeles Capital Management LLC’s holdings in Ameriprise Financial were worth $1,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its position in shares of Ameriprise Financial by 1,166.6% during the second quarter. Thrivent Financial for Lutherans now owns 312,845 shares of the financial services provider’s stock worth $74,358,000 after acquiring an additional 288,145 shares during the last quarter. Invesco Ltd. boosted its position in shares of Ameriprise Financial by 33.5% during the first quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock worth $324,031,000 after acquiring an additional 270,755 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Ameriprise Financial by 48.5% during the first quarter. Goldman Sachs Group Inc. now owns 763,424 shares of the financial services provider’s stock worth $229,303,000 after acquiring an additional 249,192 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Ameriprise Financial by 121.4% during the first quarter. Prudential Financial Inc. now owns 362,345 shares of the financial services provider’s stock worth $108,834,000 after acquiring an additional 198,694 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Ameriprise Financial by 12.6% during the second quarter. Deutsche Bank AG now owns 802,337 shares of the financial services provider’s stock worth $190,700,000 after acquiring an additional 89,616 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $333.25 on Monday. The firm has a 50-day moving average price of $321.27 and a 200-day moving average price of $289.52. The firm has a market capitalization of $35.46 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.66 and a beta of 1.46. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.60. Ameriprise Financial, Inc. has a 12-month low of $219.99 and a 12-month high of $339.41.

Ameriprise Financial (NYSE:AMP – Get Rating) last released its earnings results on Tuesday, October 25th. The financial services provider reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.82 by $0.61. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.32 billion. Ameriprise Financial had a net margin of 19.17% and a return on equity of 61.53%. The business’s revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the business earned $5.91 EPS. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 24.54 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, November 4th. Ameriprise Financial’s dividend payout ratio is presently 20.85%.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Ameriprise Financial from $340.00 to $345.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 10th. Keefe, Bruyette & Woods lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating and set a $325.00 price objective for the company. in a research report on Sunday, December 18th. The Goldman Sachs Group increased their price objective on shares of Ameriprise Financial from $290.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, November 23rd. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $310.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, October 28th. Finally, StockNews.com lowered shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Thursday, December 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $332.70.

Insider Buying and Selling

In related news, insider Dawn M. Brockman sold 410 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total value of $127,358.30. Following the transaction, the insider now owns 875 shares of the company’s stock, valued at approximately $271,801.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Gerard P. Smyth sold 4,129 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $324.66, for a total value of $1,340,521.14. Following the transaction, the executive vice president now owns 5,272 shares of the company’s stock, valued at approximately $1,711,607.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dawn M. Brockman sold 410 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $310.63, for a total transaction of $127,358.30. Following the completion of the transaction, the insider now directly owns 875 shares in the company, valued at approximately $271,801.25. The disclosure for this sale can be found here. Insiders have sold 29,737 shares of company stock valued at $9,796,822 in the last 90 days. Company insiders own 1.00% of the company’s stock.

About Ameriprise Financial

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.