Raiffeisen Bank International AG Sells 5,751 Shares of Ameriprise Financial, Inc. $AMP

Raiffeisen Bank International AG lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 79.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,483 shares of the financial services provider’s stock after selling 5,751 shares during the period. Raiffeisen Bank International AG’s holdings in Ameriprise Financial were worth $777,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Western Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the 2nd quarter worth about $222,000. Tortoise Investment Management LLC grew its position in Ameriprise Financial by 37.6% in the second quarter. Tortoise Investment Management LLC now owns 582 shares of the financial services provider’s stock worth $311,000 after acquiring an additional 159 shares in the last quarter. Adapt Wealth Advisors LLC increased its stake in Ameriprise Financial by 2.5% during the second quarter. Adapt Wealth Advisors LLC now owns 2,045 shares of the financial services provider’s stock worth $1,091,000 after acquiring an additional 50 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in Ameriprise Financial by 28.0% during the second quarter. Citizens Financial Group Inc. RI now owns 3,633 shares of the financial services provider’s stock valued at $1,939,000 after purchasing an additional 795 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its stake in shares of Ameriprise Financial by 44.8% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 1,892 shares of the financial services provider’s stock valued at $1,010,000 after purchasing an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.5%

NYSE:AMP opened at $442.88 on Wednesday. The company has a market cap of $41.15 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock has a fifty day simple moving average of $478.22 and a 200-day simple moving average of $502.31.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS 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 $4.73 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter last year, the firm posted $9.02 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

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

Wall Street Analyst Weigh In

AMP has been the topic of several analyst reports. Evercore ISI cut their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Morgan Stanley dropped their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. Keefe, Bruyette & Woods reduced their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Royal Bank Of Canada lowered their target price on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, Raymond James Financial upped their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $533.22.

Insider Buying and Selling at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of the business’s 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 owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.57% of the company’s stock.

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.