Legacy Private Trust Co. lowered its position in Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,714 shares of the financial services provider's stock after selling 2,196 shares during the period. Legacy Private Trust Co.'s holdings in Ameriprise Financial were worth $6,761,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in AMP. Fairfield Bush & CO. purchased a new stake in Ameriprise Financial during the first quarter worth about $53,000. Synovus Financial Corp boosted its position in Ameriprise Financial by 2.9% during the first quarter. Synovus Financial Corp now owns 1,961 shares of the financial services provider's stock worth $588,000 after purchasing an additional 56 shares during the period. Aviva PLC boosted its position in Ameriprise Financial by 23.7% during the first quarter. Aviva PLC now owns 45,024 shares of the financial services provider's stock worth $13,523,000 after purchasing an additional 8,625 shares during the period. Prudential PLC bought a new position in shares of Ameriprise Financial in the first quarter valued at approximately $724,000. Finally, Cetera Investment Advisers boosted its position in shares of Ameriprise Financial by 62.5% in the first quarter. Cetera Investment Advisers now owns 2,900 shares of the financial services provider's stock valued at $871,000 after acquiring an additional 1,115 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.
Get Ameriprise Financial alerts:Ameriprise Financial Stock Down 1.9 %
NYSE AMP opened at $291.44 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $30.64 billion, a P/E ratio of 12.98, a P/E/G ratio of 0.54 and a beta of 1.49. Ameriprise Financial, Inc. has a one year low of $219.99 and a one year high of $357.46. The stock has a 50 day moving average price of $332.04 and a 200-day moving average price of $311.54.
Ameriprise Financial (NYSE:AMP – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The financial services provider reported $6.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $3.46 billion. During the same period last year, the company earned $6.15 earnings per share. Ameriprise Financial's revenue was down 3.8% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 30.69 EPS for the current fiscal year.
Ameriprise Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders 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 dividend on an annualized basis and a yield of 1.72%. Ameriprise Financial's payout ratio is 22.27%.
Insiders Place Their Bets
In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 6,390 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $350.35, for a total value of $2,238,736.50. Following the sale, the insider now owns 10,955 shares in the company, valued at $3,838,084.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Joseph Edward Sweeney sold 6,390 shares of the firm's stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $350.35, for a total transaction of $2,238,736.50. Following the transaction, the insider now owns 10,955 shares in the company, valued at $3,838,084.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dawn M. Brockman sold 410 shares of the firm'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 completion of the sale, the insider now directly owns 875 shares of the company's stock, valued at approximately $271,801.25. The disclosure for this sale can be found here. Insiders have sold a total of 75,738 shares of company stock worth $26,606,004 over the last quarter. Company insiders own 1.00% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently commented on AMP. UBS Group raised their price objective on shares of Ameriprise Financial from $355.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, January 9th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $340.00 to $345.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 10th. Credit Suisse Group lifted their target price on shares of Ameriprise Financial from $382.00 to $401.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 1st. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $350.00 to $375.00 and gave the stock a "market perform" rating in a research note on Tuesday, January 31st. Finally, StockNews.com assumed coverage on shares of Ameriprise Financial in a research note on Thursday, March 16th. They issued a "hold" rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $347.18.
Ameriprise Financial Company 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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