Aperio Group LLC cut its position in shares of Ameriprise Financial (NYSE:AMP) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,337 shares of the financial services provider’s stock after selling 6,388 shares during the quarter. Aperio Group LLC’s holdings in Ameriprise Financial were worth $19,134,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Icon Wealth Partners LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $101,000. Lee Financial Co increased its position in shares of Ameriprise Financial by 99.4% during the fourth quarter. Lee Financial Co now owns 682 shares of the financial services provider’s stock worth $116,000 after buying an additional 340 shares during the period. Virtue Capital Management LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $128,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Ameriprise Financial by 150.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 780 shares of the financial services provider’s stock worth $132,000 after buying an additional 468 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $133,000. Institutional investors own 88.24% of the company’s stock.
AMP has been the subject of several recent analyst reports. SunTrust Banks increased their price objective on shares of Ameriprise Financial to $180.00 and gave the stock a “hold” rating in a research report on Friday, January 19th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $187.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Sandler O’Neill set a $165.00 price target on shares of Ameriprise Financial and gave the stock a “hold” rating in a report on Monday, February 12th. Deutsche Bank started coverage on shares of Ameriprise Financial in a report on Friday, March 2nd. They issued a “buy” rating for the company. Finally, UBS started coverage on shares of Ameriprise Financial in a report on Friday, March 2nd. They issued a “buy” rating and a $217.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $167.22.
In other Ameriprise Financial news, VP Walter Stanley Berman acquired 3,728 shares of Ameriprise Financial stock in a transaction dated Wednesday, May 2nd. The stock was purchased at an average cost of $134.12 per share, for a total transaction of $499,999.36. Following the completion of the acquisition, the vice president now directly owns 25,076 shares of the company’s stock, valued at $3,363,193.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Randy Kupper sold 4,381 shares of Ameriprise Financial stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $159.61, for a total transaction of $699,251.41. Following the transaction, the executive vice president now owns 21,607 shares of the company’s stock, valued at $3,448,693.27. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
NYSE:AMP opened at $141.45 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $19.98 billion, a price-to-earnings ratio of 11.53 and a beta of 1.86. Ameriprise Financial has a 12 month low of $138.01 and a 12 month high of $139.83.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Monday, April 23rd. The financial services provider reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.24. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Ameriprise Financial had a net margin of 13.59% and a return on equity of 33.67%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $2.52 earnings per share. research analysts anticipate that Ameriprise Financial will post 14.44 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 18th. Shareholders of record on Monday, May 7th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.55%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 29.34%.
Ameriprise Financial Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
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