GWM Advisors LLC decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 6.4% in the first quarter, Holdings Channel.com reports. The firm owned 2,824 shares of the financial services provider’s stock after selling 192 shares during the period. GWM Advisors LLC’s holdings in Ameriprise Financial were worth $656,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. CVA Family Office LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter valued at $28,000. Arlington Partners LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $25,000. Regent Peak Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $26,000. International Assets Investment Management LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $28,000. Finally, Inspire Advisors LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $29,000. 83.05% of the stock is owned by institutional investors.
In related news, VP Karen Wilson Thissen sold 1,307 shares of the stock in a transaction dated Wednesday, February 3rd. The shares were sold at an average price of $204.94, for a total value of $267,856.58. Also, EVP Colin Moore sold 44,068 shares of the stock in a transaction dated Wednesday, February 3rd. The stock was sold at an average price of $202.60, for a total transaction of $8,928,176.80. Over the last quarter, insiders sold 104,418 shares of company stock valued at $22,432,988. 1.50% of the stock is owned by company insiders.
AMP has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on shares of Ameriprise Financial from $215.00 to $221.00 and gave the company an “overweight” rating in a report on Wednesday, January 6th. Citigroup upped their price target on shares of Ameriprise Financial from $245.00 to $265.00 in a report on Wednesday, March 31st. Barclays upped their price target on shares of Ameriprise Financial from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, April 19th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $220.00 to $236.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Zacks Investment Research lowered shares of Ameriprise Financial from a “buy” rating to a “hold” rating and set a $244.00 price target for the company. in a report on Wednesday, March 31st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $221.82.
Shares of NYSE AMP opened at $257.85 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.78. Ameriprise Financial, Inc. has a 12 month low of $106.78 and a 12 month high of $261.84. The firm has a market capitalization of $30.07 billion, a PE ratio of 18.47 and a beta of 1.74. The firm has a fifty day simple moving average of $239.45 and a two-hundred day simple moving average of $207.37.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Sunday, April 25th. The financial services provider reported $5.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.73 by $0.70. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.23 billion. Ameriprise Financial had a net margin of 15.16% and a return on equity of 33.79%. Ameriprise Financial’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $5.41 EPS. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 14.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 21st. Investors of record on Monday, May 10th will be paid a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 1.75%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.04. The ex-dividend date is Friday, May 7th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 25.84%.
About Ameriprise Financial
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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
See Also: How the Dogs of the Dow Strategy Works
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP).
Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.