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

PNC Financial Services Group Inc. trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 350,152 shares of the financial services provider’s stock after selling 14,769 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ameriprise Financial were worth $186,887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Trust Co. of Vermont grew its holdings in Ameriprise Financial by 0.6% during the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after purchasing an additional 19 shares during the period. Plancorp LLC increased its position in shares of Ameriprise Financial by 4.8% in the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after buying an additional 20 shares in the last quarter. Old Port Advisors raised its stake in Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock worth $737,000 after buying an additional 20 shares during the period. Linden Thomas Advisory Services LLC raised its stake in Ameriprise Financial by 0.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock worth $2,186,000 after buying an additional 20 shares during the period. Finally, Pinnacle Associates Ltd. lifted its holdings in Ameriprise Financial by 1.6% during the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 21 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of the firm’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 transaction of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The transaction 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 Ameriprise Financial stock in a transaction on Tuesday, August 19th. The stock was 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 directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMP. Morgan Stanley cut their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Raymond James Financial increased their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. Royal Bank Of Canada cut their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. BMO Capital Markets initiated coverage on Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective on the stock. Finally, Evercore ISI lowered their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $530.63.

Ameriprise Financial Stock Up 1.2%

Shares of NYSE:AMP opened at $470.38 on Thursday. The company has a market capitalization of $43.70 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The business has a fifty day moving average price of $481.97 and a two-hundred day moving average price of $502.74.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.76 by $0.16. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $9.02 earnings per share. Analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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

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.