Shell Asset Management Co. Has $2.28 Million Position in Ameriprise Financial, Inc. $AMP

Key Points

• Shell Asset Management Co. increased its stake in Ameriprise Financial by 34.1% in Q2, owning 4,275 shares worth approximately $2.28 million.
• Insider sales were noted, including CEO William F. Truscott selling 9,929 shares, reducing his ownership by 47.34% to 11,047 shares valued at about $5.6 million.
• Analysts have varied opinions on Ameriprise Financial, with ratings ranging from "Strong Buy" to "Sell," and a consensus target price of $535.14.

Shell Asset Management Co. grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 34.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,275 shares of the financial services provider's stock after buying an additional 1,088 shares during the period. Shell Asset Management Co.'s holdings in Ameriprise Financial were worth $2,282,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. KLP Kapitalforvaltning AS increased its stake in Ameriprise Financial by 3.3% in the second quarter. KLP Kapitalforvaltning AS now owns 34,519 shares of the financial services provider's stock valued at $18,424,000 after acquiring an additional 1,100 shares during the period. Relyea Zuckerberg Hanson LLC bought a new stake in Ameriprise Financial in the second quarter valued at about $291,000. Valeo Financial Advisors LLC increased its stake in Ameriprise Financial by 76.6% in the second quarter. Valeo Financial Advisors LLC now owns 2,063 shares of the financial services provider's stock valued at $1,101,000 after acquiring an additional 895 shares during the period. Knights of Columbus Asset Advisors LLC increased its stake in Ameriprise Financial by 4.2% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 16,735 shares of the financial services provider's stock valued at $8,932,000 after acquiring an additional 667 shares during the period. Finally, Grimes & Company Inc. increased its stake in Ameriprise Financial by 3.9% in the second quarter. Grimes & Company Inc. now owns 1,528 shares of the financial services provider's stock valued at $816,000 after acquiring an additional 58 shares during the period. Institutional investors own 83.95% of the company's stock.

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 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 in the company, valued at approximately $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 accessible through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares in the company, 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 corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on AMP shares. William Blair cut shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a "market perform" rating and a $525.00 target price on the stock. Royal Bank Of Canada upped their price objective 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. Raymond James Financial upped their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. Finally, Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and a consensus target price of $535.14.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $490.09 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The firm's 50 day moving average is $501.37 and its 200-day moving average is $502.07. The firm has a market capitalization of $46.20 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.12 and a beta of 1.26. 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 announced its 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 for the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the business earned $8.72 earnings per share. Ameriprise Financial's quarterly revenue 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 business 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 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's dividend payout ratio is presently 19.91%.

About Ameriprise Financial

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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