Boston Common Asset Management LLC Sells 1,563 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Boston Common Asset Management LLC has reduced its stake in Ameriprise Financial by 3.9%, selling 1,563 shares during the second quarter, leaving them with 38,052 shares valued at approximately $20.3 million.
• Insider transactions included the sale of 1,500 shares by EVP Heather J. Melloh and 9,929 shares by CEO William F. Truscott, indicating significant decreases in ownership stakes.
• Ameriprise Financial reported earnings of $9.11 per share for the last quarter, exceeding analysts' estimates, while also declaring a quarterly dividend of $1.60, yielding 1.3% annually.

Boston Common Asset Management LLC decreased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,052 shares of the financial services provider's stock after selling 1,563 shares during the quarter. Boston Common Asset Management LLC's holdings in Ameriprise Financial were worth $20,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Accel Wealth Management lifted its position in Ameriprise Financial by 1.8% in the second quarter. Accel Wealth Management now owns 1,449 shares of the financial services provider's stock valued at $773,000 after purchasing an additional 26 shares during the last quarter. Penobscot Investment Management Company Inc. lifted its position in Ameriprise Financial by 2.7% in the second quarter. Penobscot Investment Management Company Inc. now owns 4,348 shares of the financial services provider's stock valued at $2,321,000 after purchasing an additional 116 shares during the last quarter. QRG Capital Management Inc. lifted its position in Ameriprise Financial by 6.2% in the second quarter. QRG Capital Management Inc. now owns 25,352 shares of the financial services provider's stock valued at $13,531,000 after purchasing an additional 1,477 shares during the last quarter. Fairvoy Private Wealth LLC lifted its position in Ameriprise Financial by 2.0% in the second quarter. Fairvoy Private Wealth LLC now owns 7,935 shares of the financial services provider's stock valued at $4,235,000 after purchasing an additional 158 shares during the last quarter. Finally, Jackson Wealth Management LLC lifted its position in Ameriprise Financial by 1.0% in the second quarter. Jackson Wealth Management LLC now owns 8,551 shares of the financial services provider's stock valued at $4,564,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Insider Buying and Selling at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 9,929 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was 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 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 disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $491.67 on Friday. The stock has a market cap of $46.35 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.11 and a beta of 1.26. The business's fifty day moving average is $502.93 and its 200 day moving average is $502.12. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.

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

Ameriprise Financial Dividend Announcement

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

Analyst Ratings Changes

AMP has been the subject of several recent research reports. Morgan Stanley lowered their price objective on Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating for the company in a research report on Wednesday. Weiss Ratings reiterated a "buy (b)" rating on shares of Ameriprise Financial in a research report on Saturday, September 27th. William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Raymond James Financial upped their target price on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada upped their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average price target of $535.14.

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.

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