Engineers Gate Manager LP trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 69.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,603 shares of the financial services provider’s stock after selling 5,845 shares during the quarter. Engineers Gate Manager LP’s holdings in Ameriprise Financial were worth $385,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. AXA increased its holdings in shares of Ameriprise Financial by 26.3% during the 4th quarter. AXA now owns 497,212 shares of the financial services provider’s stock valued at $84,262,000 after purchasing an additional 103,465 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $133,000. Lazard Asset Management LLC increased its holdings in shares of Ameriprise Financial by 5.7% during the 4th quarter. Lazard Asset Management LLC now owns 312,763 shares of the financial services provider’s stock valued at $53,003,000 after purchasing an additional 16,895 shares in the last quarter. BB&T Securities LLC increased its holdings in shares of Ameriprise Financial by 1.1% during the 4th quarter. BB&T Securities LLC now owns 49,751 shares of the financial services provider’s stock valued at $8,431,000 after purchasing an additional 534 shares in the last quarter. Finally, Advisory Services Network LLC increased its holdings in shares of Ameriprise Financial by 6.7% during the 4th quarter. Advisory Services Network LLC now owns 5,294 shares of the financial services provider’s stock valued at $897,000 after purchasing an additional 331 shares in the last quarter. 82.93% of the stock is owned by hedge funds and other institutional investors.
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In other Ameriprise Financial news, CEO James M. Cracchiolo bought 7,400 shares of the stock in a transaction on Thursday, May 10th. The shares were bought at an average price of $136.04 per share, with a total value of $1,006,696.00. Following the purchase, the chief executive officer now directly owns 242,416 shares in the company, valued at approximately $32,978,272.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Walter Stanley Berman bought 3,728 shares of the stock in a transaction on Wednesday, May 2nd. The shares were acquired at an average cost of $134.12 per share, for a total transaction of $499,999.36. Following the purchase, the vice president now owns 25,076 shares in the company, valued at $3,363,193.12. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.
Ameriprise Financial opened at $142.23 on Friday, Marketbeat reports. Ameriprise Financial, Inc. has a 1 year low of $118.84 and a 1 year high of $183.90. The firm has a market capitalization of $20.56 billion, a P/E ratio of 11.59 and a beta of 1.86. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.67 and a current ratio of 0.67.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Monday, April 23rd. The financial services provider reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.24. Ameriprise Financial had a net margin of 13.59% and a return on equity of 33.67%. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the company posted $2.52 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. analysts forecast that Ameriprise Financial, Inc. will post 14.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 18th. Shareholders of record on Monday, May 7th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Friday, May 4th. This is a boost from Ameriprise Financial’s previous quarterly dividend of $0.83. Ameriprise Financial’s payout ratio is 29.34%.
Several equities analysts have recently weighed in on AMP shares. Zacks Investment Research lowered shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Monday, April 9th. Morgan Stanley dropped their price target on shares of Ameriprise Financial from $190.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday, April 5th. SunTrust Banks dropped their price target on shares of Ameriprise Financial to $150.00 and set a “hold” rating on the stock in a research note on Wednesday, April 25th. They noted that the move was a valuation call. UBS began coverage on shares of Ameriprise Financial in a research note on Friday, March 2nd. They issued a “buy” rating and a $217.00 price target on the stock. Finally, ValuEngine cut shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $167.22.
Ameriprise Financial Company 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.
