Bank of New York Mellon Corp Lowers Holdings in Ameriprise Financial, Inc. $AMP

Bank of New York Mellon Corp lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 8.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 828,220 shares of the financial services provider’s stock after selling 76,817 shares during the period. Bank of New York Mellon Corp owned about 0.87% of Ameriprise Financial worth $442,046,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AMP. Brighton Jones LLC raised its position in shares of Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares during the period. D.A. Davidson & CO. raised its position in shares of Ameriprise Financial by 6.5% in the first quarter. D.A. Davidson & CO. now owns 4,421 shares of the financial services provider’s stock worth $2,140,000 after acquiring an additional 268 shares during the period. Strategic Blueprint LLC raised its position in shares of Ameriprise Financial by 32.0% in the first quarter. Strategic Blueprint LLC now owns 565 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 137 shares during the period. World Investment Advisors raised its position in shares of Ameriprise Financial by 1.7% in the first quarter. World Investment Advisors now owns 1,654 shares of the financial services provider’s stock worth $800,000 after acquiring an additional 27 shares during the period. Finally, Concurrent Investment Advisors LLC raised its position in shares of Ameriprise Financial by 5.0% in the first quarter. Concurrent Investment Advisors LLC now owns 668 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. 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 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 of the company’s stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Down 0.0%

AMP stock opened at $452.58 on Tuesday. The company has a market cap of $42.67 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.07 and a beta of 1.26. 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 12 month low of $396.14 and a 12 month high of $582.05. The firm has a 50-day moving average of $489.51 and a two-hundred day moving average of $503.26.

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

Ameriprise Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Evercore ISI decreased their price objective on shares of 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. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target for the company. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Finally, Raymond James Financial upped their price target 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. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $530.63.

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.