Generali Asset Management SPA SGR Has $1.63 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Generali Asset Management SPA SGR has reduced its holding in Ameriprise Financial by 32.6%, now owning shares worth $1.63 million.
• Insider sales at Ameriprise include EVP Heather J. Melloh selling 1,500 shares and CEO William F. Truscott selling 9,929 shares, resulting in significant decreases in their ownership stakes.
• A range of analysts have reacted to Ameriprise's stock, with upgrades and downgrades setting target prices between $484.00 and $582.00, reflecting a mixed outlook for the company's performance.

Generali Asset Management SPA SGR decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 32.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,056 shares of the financial services provider's stock after selling 1,481 shares during the period. Generali Asset Management SPA SGR's holdings in Ameriprise Financial were worth $1,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AMP. Brighton Jones LLC boosted its position in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after buying an additional 50 shares in the last quarter. GAMMA Investing LLC boosted its position in Ameriprise Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after buying an additional 83 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Ameriprise Financial by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider's stock valued at $12,055,000 after buying an additional 1,433 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Ameriprise Financial by 488.5% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after buying an additional 806 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Ameriprise Financial by 3.5% in the first quarter. Janney Montgomery Scott LLC now owns 27,235 shares of the financial services provider's stock valued at $13,185,000 after buying an additional 931 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Transactions at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial 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 transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial 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 transaction, the chief executive officer owned 11,047 shares of the company's stock, valued at $5,599,613.83. This represents 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 company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMP. BMO Capital Markets assumed 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 on the stock. Evercore ISI dropped their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an "in-line" rating for the company in a research note on Thursday, October 9th. William Blair downgraded shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Raymond James Financial raised their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. Finally, Morgan Stanley dropped their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating for the company in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $539.50.

Ameriprise Financial Trading Up 0.5%

AMP opened at $470.03 on Friday. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market cap of $44.31 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.26. The company has a fifty day moving average price of $497.70 and a two-hundred day moving average price of $501.23.

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

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders 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 dividend yield of 1.4%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is currently 19.91%.

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.

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