TRUE Private Wealth Advisors bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,749 shares of the financial services provider’s stock, valued at approximately $465,000.
Other hedge funds have also modified their holdings of the company. IHT Wealth Management LLC raised its stake in shares of Ameriprise Financial by 284.0% in the 2nd quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 230 shares during the period. Sun Life Financial INC raised its stake in shares of Ameriprise Financial by 10,100.0% in the 2nd quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 1,111 shares during the period. D.A. Davidson & CO. raised its stake in shares of Ameriprise Financial by 60.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,374 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 517 shares during the period. Wesbanco Bank Inc. purchased a new position in shares of Ameriprise Financial in the 3rd quarter valued at $200,000. Finally, Shelton Capital Management purchased a new position in shares of Ameriprise Financial in the 3rd quarter valued at $203,000. 80.68% of the stock is currently owned by institutional investors and hedge funds.
In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 5,500 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $174.04, for a total transaction of $957,220.00. Following the completion of the transaction, the executive vice president now directly owns 8,138 shares of the company’s stock, valued at approximately $1,416,337.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 31,379 shares of Ameriprise Financial stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $173.64, for a total transaction of $5,448,649.56. Following the completion of the transaction, the chief executive officer now directly owns 67,058 shares of the company’s stock, valued at $11,643,951.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,628 shares of company stock valued at $8,570,993. 1.50% of the stock is owned by company insiders.
Ameriprise Financial, Inc. (NYSE AMP) traded up $1.38 on Friday, reaching $153.88. 1,480,000 shares of the company were exchanged, compared to its average volume of 1,190,000. The firm has a market cap of $22,760.00, a price-to-earnings ratio of 16.32 and a beta of 1.85. Ameriprise Financial, Inc. has a 1-year low of $118.84 and a 1-year high of $183.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.67 and a current ratio of 0.67.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($1.90). The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.05 billion. Ameriprise Financial had a net margin of 12.31% and a return on equity of 31.03%. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.46 earnings per share. analysts forecast that Ameriprise Financial, Inc. will post 14.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, February 15th. Ameriprise Financial’s dividend payout ratio is currently 35.21%.
A number of equities analysts have recently commented on the stock. Royal Bank of Canada set a $155.00 target price on shares of Ameriprise Financial and gave the company a “sector perform” rating in a research note on Wednesday, October 25th. ValuEngine downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Morgan Stanley raised their target price on shares of Ameriprise Financial from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. SunTrust Banks raised their price target on shares of Ameriprise Financial to $180.00 and gave the company a “hold” rating in a report on Friday, January 19th. Finally, Zacks Investment Research lowered shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $164.98.
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Ameriprise Financial Company Profile
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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