Wright Investors Service Inc. Sells 814 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Wright Investors Service Inc. reduced its holdings in Ameriprise Financial by 26.9%, selling 814 shares and ending up with a total of 2,207 shares valued at approximately $1.18 million.
• CEO William F. Truscott sold 9,929 shares of Ameriprise stock for over $5 million, a 47.34% decrease in his ownership, while EVP Heather J. Melloh sold 1,500 shares worth approximately $768,510.
• Ameriprise Financial's most recent earnings report showed an EPS of $9.11, exceeding estimates, and the company declared a quarterly dividend of $1.60 per share.

Wright Investors Service Inc. decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 26.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,207 shares of the financial services provider's stock after selling 814 shares during the period. Wright Investors Service Inc.'s holdings in Ameriprise Financial were worth $1,178,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Plancorp LLC boosted its stake in shares of Ameriprise Financial by 4.8% during the first quarter. Plancorp LLC now owns 441 shares of the financial services provider's stock valued at $213,000 after purchasing an additional 20 shares in the last quarter. Forum Financial Management LP boosted its stake in shares of Ameriprise Financial by 1.4% during the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock valued at $790,000 after purchasing an additional 21 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock worth $665,000 after acquiring an additional 21 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Ameriprise Financial by 3.0% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider's stock worth $345,000 after acquiring an additional 21 shares during the period. Finally, Argent Trust Co lifted its stake in shares of Ameriprise Financial by 1.3% in the first quarter. Argent Trust Co now owns 1,698 shares of the financial services provider's stock worth $822,000 after acquiring an additional 21 shares during the period. Institutional investors own 83.95% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on AMP shares. William Blair lowered Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. 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. Morgan Stanley lowered Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their price objective for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. 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. Finally, Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of "Hold" and a consensus target price of $534.71.

Insider Activity at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the business'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 completion of the sale, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the business'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 value of $768,510.00. Following the sale, the executive vice president owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company's stock.

Ameriprise Financial Trading Down 0.7%

Shares of AMP stock opened at $488.15 on Friday. The company has a market cap of $46.02 billion, a P/E ratio of 15.19, a PEG ratio of 1.05 and a beta of 1.27. The stock has a 50 day simple moving average of $510.69 and a two-hundred day simple moving average of $501.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05.

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. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $8.72 earnings per share. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. 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 payout ratio is currently 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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