Magnetar Financial LLC Decreases Stock Holdings in Ameriprise Financial, Inc. $AMP

Magnetar Financial LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 95.8% during the second quarter, Holdings Channel.com reports. The fund owned 406 shares of the financial services provider’s stock after selling 9,255 shares during the quarter. Magnetar Financial LLC’s holdings in Ameriprise Financial were worth $217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Ameriprise Financial by 0.9% in the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock valued at $6,635,471,000 after purchasing an additional 111,386 shares during the period. JPMorgan Chase & Co. lifted its stake in Ameriprise Financial by 21.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock valued at $2,819,900,000 after buying an additional 1,023,002 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Ameriprise Financial by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock worth $1,500,115,000 after buying an additional 47,584 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Ameriprise Financial by 55.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after buying an additional 796,925 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Ameriprise Financial by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock valued at $578,852,000 after acquiring an additional 266,631 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. This represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction 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. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Evercore ISI lowered their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Morgan Stanley dropped their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. BMO Capital Markets started coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price for the company. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $533.22.

Ameriprise Financial Trading Up 0.2%

Shares of AMP opened at $453.56 on Thursday. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The firm has a market capitalization of $42.14 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.07 and a beta of 1.28. The firm has a 50-day moving average price of $473.07 and a 200 day moving average price of $500.71. 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 earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating 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 analyst estimates of $4.51 billion. During the same period in the previous year, the business posted $9.02 EPS. Ameriprise Financial’s revenue was up 9.0% on a year-over-year basis. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

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

Ameriprise Financial 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.