Lmcg Investments LLC Sells 2,110 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Lmcg Investments LLC significantly reduced its holdings in Ameriprise Financial by 65.7%, selling 2,110 shares and lowering its position to 1,104 shares valued at $589,000.
• Several institutional investors, including JPMorgan Chase & Co. and UBS AM, increased their positions in Ameriprise Financial during the first quarter, indicating a strong institutional interest in the company.
• The company reported a quarterly EPS of $9.11, surpassing analysts' estimates, with a net margin of 18.30% and a revenue increase of 2.2% year-over-year.

Lmcg Investments LLC lowered its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 65.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,104 shares of the financial services provider's stock after selling 2,110 shares during the quarter. Lmcg Investments LLC's holdings in Ameriprise Financial were worth $589,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AMP. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 21.3% in the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock worth $2,819,900,000 after purchasing an additional 1,023,002 shares during the period. Nuveen LLC purchased a new position in Ameriprise Financial in the first quarter worth $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Ameriprise Financial by 55.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider's stock worth $1,086,724,000 after acquiring an additional 796,925 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Ameriprise Financial by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock worth $578,852,000 after acquiring an additional 266,631 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Ameriprise Financial by 78.6% in the first quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider's stock worth $202,869,000 after acquiring an additional 189,525 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Insider Buying and Selling

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. This trade 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 accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction that occurred on 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 directly owned 11,047 shares of the company's stock, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AMP has been the subject of several research reports. Raymond James Financial upped their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada upped their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. BMO Capital Markets initiated 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 for the company. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley cut 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 report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus price target of $539.50.

Ameriprise Financial Price Performance

AMP stock opened at $479.75 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 market cap of $45.23 billion, a P/E ratio of 14.93, a PEG ratio of 1.08 and a beta of 1.26. The firm has a 50-day moving average of $500.39 and a 200 day moving average of $501.70. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62.

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

Ameriprise Financial Announces Dividend

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