Petrus Trust Company LTA Cuts Position in Ameriprise Financial, Inc. $AMP

Key Points

• Petrus Trust Company LTA has reduced its stake in Ameriprise Financial, Inc. by 75.6% in the first quarter, owning only 471 shares worth $228,000 after selling 1,459 shares.
• Analysts offer mixed ratings on Ameriprise Financial; with one analyst assigning a Strong Buy rating while several others issued Hold or Sell ratings, resulting in an average rating of "Hold" with a consensus target price of $534.71.
• The company announced a quarterly dividend of $1.60 per share, translating to an annual yield of 1.3%, with a payout ratio of 19.91%.

Petrus Trust Company LTA reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 75.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 471 shares of the financial services provider's stock after selling 1,459 shares during the period. Petrus Trust Company LTA's holdings in Ameriprise Financial were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $26,000. TD Capital Management LLC grew its stake in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock worth $29,000 after buying an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter worth about $29,000. Sunbeam Capital Management LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth about $31,000. Finally, WPG Advisers LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter worth about $33,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial 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 $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Down 0.8%

Shares of AMP traded down $3.82 during mid-day trading on Friday, hitting $497.15. The company's stock had a trading volume of 302,141 shares, compared to its average volume of 401,374. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company's 50-day moving average is $515.73 and its 200-day moving average is $503.05. 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 firm has a market capitalization of $46.87 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.07 and a beta of 1.27.

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

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is 19.91%.

Analyst Ratings Changes

A number of research firms recently commented on AMP. William Blair cut shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Morgan Stanley cut shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their price target for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada lifted their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $534.71.

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.