Hexagon Capital Partners LLC trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 39.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 284 shares of the financial services provider's stock after selling 186 shares during the period. Hexagon Capital Partners LLC's holdings in Ameriprise Financial were worth $88,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of AMP. Vanguard Group Inc. lifted its stake in shares of Ameriprise Financial by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,925,117 shares of the financial services provider's stock worth $3,508,434,000 after acquiring an additional 84,131 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in shares of Ameriprise Financial by 2.4% in the third quarter. UBS Asset Management Americas Inc. now owns 2,044,344 shares of the financial services provider's stock valued at $515,072,000 after purchasing an additional 48,641 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Ameriprise Financial by 33.5% in the first quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider's stock valued at $324,031,000 after purchasing an additional 270,755 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Ameriprise Financial by 7.9% during the third quarter. Nuveen Asset Management LLC now owns 1,051,996 shares of the financial services provider's stock worth $265,050,000 after buying an additional 77,367 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Ameriprise Financial by 7.8% during the third quarter. Dimensional Fund Advisors LP now owns 993,519 shares of the financial services provider's stock worth $250,327,000 after buying an additional 71,559 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.
Get Ameriprise Financial alerts:Insider Activity
In related news, CEO James M. Cracchiolo sold 39,343 shares of the firm's stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $352.08, for a total value of $13,851,883.44. Following the completion of the transaction, the chief executive officer now directly owns 157,103 shares of the company's stock, valued at $55,312,824.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ameriprise Financial news, insider Dawn M. Brockman sold 410 shares of Ameriprise Financial stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $310.63, for a total transaction of $127,358.30. Following the completion of the transaction, the insider now directly owns 875 shares of the company's stock, valued at $271,801.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James M. Cracchiolo sold 39,343 shares of Ameriprise Financial stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $352.08, for a total value of $13,851,883.44. Following the transaction, the chief executive officer now directly owns 157,103 shares of the company's stock, valued at $55,312,824.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,738 shares of company stock valued at $26,606,004. 1.00% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on AMP. Argus boosted their target price on shares of Ameriprise Financial from $340.00 to $392.00 in a report on Tuesday, January 31st. StockNews.com initiated coverage on shares of Ameriprise Financial in a research note on Thursday, March 16th. They set a "hold" rating for the company. Credit Suisse Group boosted their target price on shares of Ameriprise Financial from $382.00 to $401.00 and gave the company an "outperform" rating in a research note on Wednesday, February 1st. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $350.00 to $375.00 and gave the company a "market perform" rating in a research note on Tuesday, January 31st. Finally, UBS Group upped their price target on shares of Ameriprise Financial from $355.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, January 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $347.18.
Ameriprise Financial Trading Up 0.3 %
Shares of AMP stock opened at $297.16 on Friday. Ameriprise Financial, Inc. has a 12 month low of $219.99 and a 12 month high of $357.46. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.43. The business's 50 day moving average is $332.88 and its two-hundred day moving average is $310.84. The company has a market cap of $31.25 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 0.52 and a beta of 1.49.
Ameriprise Financial (NYSE:AMP – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The financial services provider reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.35 by $0.59. Ameriprise Financial had a return on equity of 70.64% and a net margin of 17.91%. The company had revenue of $3.62 billion during the quarter, compared to analysts' expectations of $3.46 billion. During the same period in the prior year, the business earned $6.15 earnings per share. Ameriprise Financial's revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts predict that Ameriprise Financial, Inc. will post 30.69 EPS for the current year.
Ameriprise Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 10th were given a $1.25 dividend. The ex-dividend date was Thursday, February 9th. This represents a $5.00 annualized dividend and a dividend yield of 1.68%. Ameriprise Financial's dividend payout ratio is 22.27%.
Ameriprise Financial Profile
(Get Rating)
Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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