PFG Investments LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,179 shares of the financial services provider’s stock after selling 149 shares during the period. PFG Investments LLC’s holdings in Ameriprise Financial were worth $628,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of AMP. Geller Advisors LLC grew its holdings in shares of Ameriprise Financial by 2.2% during the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock valued at $412,000 after buying an additional 19 shares during the last quarter. Cerro Pacific Wealth Advisors LLC lifted its position in Ameriprise Financial by 3.4% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 19 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its stake in Ameriprise Financial by 2.0% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 20 shares during the last quarter. Dakota Wealth Management increased its holdings in Ameriprise Financial by 2.7% during the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 21 shares in the last quarter. Finally, Ledyard National Bank raised its stake in shares of Ameriprise Financial by 3.2% in the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.
Insider Activity at Ameriprise Financial
In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the transaction, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This trade represents a 64.88 % 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 company insiders.
Wall Street Analysts Forecast Growth
AMP has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday, January 10th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $503.22.
Get Our Latest Research Report on Ameriprise Financial
Ameriprise Financial Stock Up 0.6 %
AMP opened at $575.28 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $378.05 and a twelve month high of $577.89. The company’s 50-day moving average price is $548.34 and its two-hundred day moving average price is $495.95. The stock has a market cap of $55.81 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 0.85 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.
Ameriprise Financial (NYSE:AMP – Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 68.52% and a net margin of 15.99%. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 33.96 earnings per share for the current year.
Ameriprise Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.03%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.73%.
Ameriprise Financial Company Profile
(Free Report)
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.
Further Reading
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