Hanson & Doremus Investment Management decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 28.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109 shares of the financial services provider's stock after selling 44 shares during the quarter. Hanson & Doremus Investment Management's holdings in Ameriprise Financial were worth $34,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Argus Investors Counsel Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $213,000. Boyd Watterson Asset Management LLC OH acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $142,000. Trifecta Capital Advisors LLC acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $33,000. Sequoia Financial Advisors LLC acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $674,000. Finally, Diversified Trust Co acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $354,000. Institutional investors and hedge funds own 81.66% of the company's stock.
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Shares of AMP 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 $311.30. 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 firm has a market cap of $30.64 billion, a PE ratio of 12.98, a P/E/G ratio of 0.54 and a beta of 1.49. Ameriprise Financial, Inc. has a 12 month low of $219.99 and a 12 month high of $357.46.
Ameriprise Financial (NYSE:AMP – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The financial services provider reported $6.94 EPS for the quarter, topping analysts' consensus estimates of $6.35 by $0.59. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.46 billion. Ameriprise Financial had a net margin of 17.91% and a return on equity of 70.64%. The firm's revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.15 earnings per share. Equities research analysts expect that Ameriprise Financial, Inc. will post 30.69 EPS for the current fiscal year.
Ameriprise Financial Announces Dividend
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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Thursday, February 9th. Ameriprise Financial's dividend payout ratio is presently 22.27%.
Insider Transactions at Ameriprise Financial
In other news, insider Dawn M. Brockman sold 410 shares of the business's stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total value of $127,358.30. Following the sale, the insider now owns 875 shares of the company's stock, valued at $271,801.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 6,390 shares of the company's stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $350.35, for a total transaction of $2,238,736.50. Following the sale, the insider now directly owns 10,955 shares of the company's stock, valued at $3,838,084.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dawn M. Brockman sold 410 shares of the company's 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 sale, the insider now directly owns 875 shares in the company, valued at $271,801.25. The disclosure for this sale can be found here. Insiders have sold a total of 75,738 shares of company stock valued at $26,606,004 over the last 90 days. 1.00% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts recently issued reports on AMP shares. StockNews.com started coverage on shares of Ameriprise Financial in a report on Thursday, March 16th. They set a "hold" rating for the company. Argus boosted their price objective on shares of Ameriprise Financial from $340.00 to $392.00 in a report on Tuesday, January 31st. UBS Group boosted their price objective on shares of Ameriprise Financial from $355.00 to $370.00 and gave the company a "buy" rating in a report on Monday, January 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $350.00 to $375.00 and gave the company a "market perform" rating in a report on Tuesday, January 31st. Finally, Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $340.00 to $345.00 and gave the company an "equal weight" rating in a report on Tuesday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $347.18.
Ameriprise Financial Profile
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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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