Prentice Wealth Management LLC trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,955 shares of the financial services provider's stock after selling 122 shares during the quarter. Ameriprise Financial makes up 0.6% of Prentice Wealth Management LLC's portfolio, making the stock its 21st biggest position. Prentice Wealth Management LLC's holdings in Ameriprise Financial were worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in AMP. Trifecta Capital Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth about $33,000. Guardian Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 3rd quarter valued at about $35,000. Vigilant Capital Management LLC increased its stake in Ameriprise Financial by 120.3% during the 3rd quarter. Vigilant Capital Management LLC now owns 141 shares of the financial services provider's stock valued at $36,000 after buying an additional 77 shares during the period. Brown Brothers Harriman & Co. increased its stake in Ameriprise Financial by 106.6% during the 1st quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider's stock valued at $38,000 after buying an additional 65 shares during the period. Finally, Coston McIsaac & Partners acquired a new position in Ameriprise Financial during the 2nd quarter valued at about $44,000. 81.66% of the stock is currently owned by institutional investors.
Get Ameriprise Financial alerts:Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $340.00 to $345.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 10th. Credit Suisse Group raised their target price on shares of Ameriprise Financial from $382.00 to $401.00 and gave the stock an "outperform" rating in a report on Wednesday, February 1st. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $350.00 to $375.00 and gave the stock a "market perform" rating in a research report on Tuesday, January 31st. UBS Group increased 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. Finally, Argus increased their price target on shares of Ameriprise Financial from $340.00 to $392.00 in a research report on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $347.18.
Insider Activity
In related news, insider Dawn M. Brockman sold 410 shares of Ameriprise Financial stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $310.63, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ameriprise Financial news, CEO William F. Truscott sold 11,483 shares of the business's stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $347.69, for a total transaction of $3,992,524.27. Following the completion of the sale, the chief executive officer now directly owns 16,262 shares of the company's stock, valued at approximately $5,654,134.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dawn M. Brockman sold 410 shares of the business's stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $310.63, for a total value of $127,358.30. Following the sale, the insider now directly owns 875 shares of the company's stock, valued at $271,801.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,738 shares of company stock worth $26,606,004. Corporate insiders own 1.00% of the company's stock.
Ameriprise Financial Trading Down 1.9 %
Shares of Ameriprise Financial stock opened at $291.44 on Friday. The company's fifty day simple moving average is $332.04 and its 200-day simple moving average is $311.00. The company has a market cap of $30.64 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 0.54 and a beta of 1.49. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.43. Ameriprise Financial, Inc. has a 1 year low of $219.99 and a 1 year high of $357.46.
Ameriprise Financial (NYSE:AMP – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The financial services provider reported $6.94 earnings per share for the quarter, topping analysts' consensus estimates of $6.35 by $0.59. Ameriprise Financial had a net margin of 17.91% and a return on equity of 70.64%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the company earned $6.15 earnings per share. The business's revenue was down 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 30.69 EPS for the current year.
Ameriprise Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 10th were paid a $1.25 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $5.00 annualized dividend and a dividend yield of 1.72%. Ameriprise Financial's dividend payout ratio is presently 22.27%.
About Ameriprise Financial
(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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