Ameriprise Financial, Inc. $AMP Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,655 shares of the financial services provider’s stock after selling 187 shares during the quarter. Banque Pictet & Cie SA’s holdings in Ameriprise Financial were worth $11,558,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AMP. Brighton Jones LLC raised its stake in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares during the last quarter. GTS Securities LLC boosted its holdings in Ameriprise Financial by 423.9% during the 4th quarter. GTS Securities LLC now owns 609 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 797 shares during the period. NorthCrest Asset Manangement LLC raised its position in Ameriprise Financial by 3.7% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 6,325 shares of the financial services provider’s stock valued at $3,368,000 after purchasing an additional 225 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Ameriprise Financial by 19.1% during the 4th quarter. Wellington Management Group LLP now owns 1,627 shares of the financial services provider’s stock worth $866,000 after acquiring an additional 261 shares in the last quarter. Finally, Fire Capital Management LLC acquired a new position in Ameriprise Financial during the fourth quarter worth approximately $612,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on AMP shares. Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Royal Bank Of Canada boosted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Raymond James Financial upped their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. William Blair cut Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Finally, Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $544.50.

Ameriprise Financial Stock Up 0.1%

Shares of AMP opened at $492.16 on Friday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The firm’s 50 day moving average is $507.59 and its 200-day moving average is $501.68. The stock has a market capitalization of $46.40 billion, a PE ratio of 15.31, a P/E/G ratio of 1.05 and a beta of 1.27. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the business posted $8.72 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.91%.

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.