Angeles Investment Advisors LLC Sells 151 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Angeles Investment Advisors LLC reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,942 shares of the financial services provider’s stock after selling 151 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Ameriprise Financial were worth $830,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AMP. Rathbones Group PLC increased its position in Ameriprise Financial by 8.6% during the second quarter. Rathbones Group PLC now owns 1,827 shares of the financial services provider’s stock valued at $780,000 after acquiring an additional 145 shares during the last quarter. Plato Investment Management Ltd increased its position in shares of Ameriprise Financial by 21.5% during the 2nd quarter. Plato Investment Management Ltd now owns 6,790 shares of the financial services provider’s stock valued at $2,901,000 after purchasing an additional 1,202 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of Ameriprise Financial by 17.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 698 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 105 shares during the period. Prosperity Consulting Group LLC boosted its holdings in shares of Ameriprise Financial by 4.5% in the second quarter. Prosperity Consulting Group LLC now owns 2,086 shares of the financial services provider’s stock worth $891,000 after buying an additional 89 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Ameriprise Financial by 21.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,755 shares of the financial services provider’s stock valued at $2,031,000 after buying an additional 831 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMP. UBS Group decreased their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Royal Bank of Canada boosted their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Jefferies Financial Group raised their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Morgan Stanley cut their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $464.33.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $440.39 on Monday. The stock has a 50-day moving average price of $428.44 and a 200 day moving average price of $427.17. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $450.35. The stock has a market capitalization of $43.74 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.75 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the firm posted $7.44 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Equities research analysts forecast that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

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.