Park Place Capital Corp Trims Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Park Place Capital Corp decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 44.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,038 shares of the financial services provider’s stock after selling 823 shares during the period. Park Place Capital Corp’s holdings in Ameriprise Financial were worth $443,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Transcend Capital Advisors LLC lifted its holdings in shares of Ameriprise Financial by 6.9% in the 2nd quarter. Transcend Capital Advisors LLC now owns 1,716 shares of the financial services provider’s stock worth $733,000 after acquiring an additional 111 shares during the last quarter. American Trust purchased a new stake in Ameriprise Financial in the first quarter valued at about $350,000. Railway Pension Investments Ltd boosted its stake in Ameriprise Financial by 5.8% in the 1st quarter. Railway Pension Investments Ltd now owns 12,800 shares of the financial services provider’s stock worth $5,612,000 after purchasing an additional 700 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Ameriprise Financial by 21.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 59,400 shares of the financial services provider’s stock valued at $25,723,000 after acquiring an additional 10,423 shares during the period. Finally, Cetera Advisors LLC raised its stake in shares of Ameriprise Financial by 55.6% in the first quarter. Cetera Advisors LLC now owns 10,900 shares of the financial services provider’s stock worth $4,779,000 after purchasing an additional 3,895 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of AMP stock traded down $11.31 during trading hours on Monday, hitting $391.30. The company’s stock had a trading volume of 272,475 shares, compared to its average volume of 488,305. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $449.94. The stock has a market cap of $38.87 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 0.73 and a beta of 1.37. The business has a fifty day moving average of $430.64 and a 200-day moving average of $419.91.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $7.44 EPS. As a group, equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.77 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Evercore ISI increased their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler cut their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Finally, Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $464.33.

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.