PNC Financial Services Group Inc. Has $186.89 Million Holdings in Ameriprise Financial, Inc. $AMP

PNC Financial Services Group Inc. decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 350,152 shares of the financial services provider’s stock after selling 14,769 shares during the period. PNC Financial Services Group Inc. owned about 0.37% of Ameriprise Financial worth $186,887,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AMP. Whipplewood Advisors LLC boosted its position in Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 22 shares during the period. Salomon & Ludwin LLC boosted its holdings 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 worth $30,000 after purchasing an additional 30 shares during the period. TD Capital Management LLC grew its position in Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in Ameriprise Financial during the first quarter valued at approximately $29,000. Finally, WPG Advisers LLC purchased a new stake in Ameriprise Financial in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $470.38 on Thursday. The firm has a market capitalization of $43.70 billion, a PE ratio of 14.64, a PEG ratio of 1.07 and a beta of 1.28. 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, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The business’s 50 day moving average is $481.97 and its 200-day moving average is $502.74.

Ameriprise Financial (NYSE:AMP) last issued its 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. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $9.02 earnings per share. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMP. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Morgan Stanley cut their price target on 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 lowered their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. Evercore ISI cut their price objective on shares of 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. Finally, BMO Capital Markets started coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average price target of $530.63.

Insiders Place Their Bets

In other 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $5,032,910.81. Following the sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.73% of the stock is currently owned by company insiders.

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.