MGO One Seven LLC Sells 1,582 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• MGO One Seven LLC reduced its holdings in Ameriprise Financial by 47.5%, selling 1,582 shares and leaving it with 1,748 shares valued at $933,000.
• Insider trading saw CEO William F. Truscott sell 9,929 shares valued at over $5 million, resulting in a 47.34% decrease in their ownership.
• Analysts have varied ratings for Ameriprise Financial, with a consensus rating of "Hold" and a target price of $539.50.

MGO One Seven LLC reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 47.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,748 shares of the financial services provider's stock after selling 1,582 shares during the period. MGO One Seven LLC's holdings in Ameriprise Financial were worth $933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. OFI Invest Asset Management lifted its stake in shares of Ameriprise Financial by 59.7% in the second quarter. OFI Invest Asset Management now owns 214 shares of the financial services provider's stock worth $114,000 after acquiring an additional 80 shares during the period. Means Investment CO. Inc. acquired a new position in shares of Ameriprise Financial in the second quarter worth approximately $209,000. Board of the Pension Protection Fund acquired a new position in shares of Ameriprise Financial in the second quarter worth approximately $587,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Ameriprise Financial by 19.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,597 shares of the financial services provider's stock worth $12,077,000 after acquiring an additional 3,754 shares during the period. Finally, BSN CAPITAL PARTNERS Ltd acquired a new position in shares of Ameriprise Financial in the second quarter worth approximately $100,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 9,929 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 owned 2,562 shares of the company's stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent analyst reports. Raymond James Financial lifted their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada lifted their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Piper Sandler boosted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Finally, Evercore ISI dropped their price target on Ameriprise Financial from $587.00 to $570.00 and set an "in-line" rating on the stock in a research note on Thursday, October 9th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus target price of $539.50.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $467.45 on Friday. 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, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The stock's 50 day moving average is $498.39 and its 200-day moving average is $501.36. The firm has a market capitalization of $44.07 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.08 and a beta of 1.26.

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

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given 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 of this dividend was Monday, August 4th. Ameriprise Financial's dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.