Greenleaf Trust Cuts Position in Ameriprise Financial, Inc. $AMP

Key Points

• Greenleaf Trust has reduced its stake in Ameriprise Financial, Inc. by 45.9%, now holding 2,675 shares valued at approximately $1.43 million.
• CEO William F. Truscott sold 9,929 shares of Ameriprise at an average price of $506.89 earlier this month, marking a 47.34% decrease in his ownership.
• Analysts have mixed opinions on the stock, with a consensus rating of "Hold" and an average target price of $536.83.

Greenleaf Trust decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 45.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,675 shares of the financial services provider's stock after selling 2,270 shares during the quarter. Greenleaf Trust's holdings in Ameriprise Financial were worth $1,428,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AMP. Wealth Preservation Advisors LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter valued at about $29,000. TD Capital Management LLC increased its holdings in Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock valued at $29,000 after buying an additional 51 shares in the last quarter. WPG Advisers LLC purchased a new position in Ameriprise Financial in the first quarter valued at about $33,000. Opal Wealth Advisors LLC purchased a new position in Ameriprise Financial in the first quarter valued at about $36,000. Finally, TCTC Holdings LLC increased its holdings in Ameriprise Financial by 100.0% in the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock valued at $47,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Activity at Ameriprise Financial

In related news, 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 transaction, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares of the company's stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMP. Raymond James Financial raised their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Royal Bank Of Canada raised their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley dropped their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating for the company in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $536.83.

Ameriprise Financial Trading Down 0.9%

Ameriprise Financial stock opened at $487.04 on Thursday. The stock has a market cap of $45.91 billion, a PE ratio of 15.15, a P/E/G ratio of 1.05 and a beta of 1.26. The stock has a 50-day moving average price of $504.05 and a 200 day moving average price of $502.09. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week 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.

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

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders 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 payout ratio is presently 19.91%.

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.

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