Ameriprise Financial, Inc. $AMP Shares Sold by WBI Investments LLC

Key Points

• WBI Investments LLC has significantly reduced its stake in Ameriprise Financial by 52.3%, owning 710 shares with a total value of $344,000 after selling 778 shares.
• Ameriprise Financial reported a Q2 EPS of $9.11, exceeding estimates, along with a 2.2% increase in quarterly revenue year-over-year.
• The company declared a quarterly dividend of $1.60 per share, reflecting an annualized yield of 1.3% and a payout ratio of 19.91%.

WBI Investments LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 52.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 710 shares of the financial services provider's stock after selling 778 shares during the quarter. WBI Investments LLC's holdings in Ameriprise Financial were worth $344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of the business. Geneos Wealth Management Inc. increased its stake in Ameriprise Financial by 21.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 424 shares of the financial services provider's stock worth $205,000 after buying an additional 76 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of Ameriprise Financial by 2.1% during the 1st quarter. Focus Partners Wealth now owns 19,962 shares of the financial services provider's stock valued at $9,665,000 after purchasing an additional 418 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Ameriprise Financial during the 1st quarter valued at about $494,000. Advisory Alpha LLC bought a new position in shares of Ameriprise Financial during the 1st quarter valued at about $265,000. Finally, SCS Capital Management LLC bought a new position in shares of Ameriprise Financial during the 1st quarter valued at about $397,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Trading Up 0.6%

Shares of Ameriprise Financial stock traded up $2.73 during trading hours on Wednesday, hitting $488.86. The company's stock had a trading volume of 130,262 shares, compared to its average volume of 497,607. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The firm has a fifty day moving average of $513.74 and a 200-day moving average of $502.26. The stock has a market cap of $46.08 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.04 and a beta of 1.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the business earned $8.72 EPS. The company's quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's payout ratio is 19.91%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMP. William Blair cut shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Raymond James Financial upped their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Royal Bank Of Canada boosted their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their price target for the company from $462.00 to $530.00 in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and a consensus target price of $534.71.

Insider Transactions at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the company's stock in a transaction on Thursday, September 4th. The shares were 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 of the company's stock, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

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.