Altium Wealth Management LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,570 shares of the financial services provider’s stock after selling 170 shares during the period. Altium Wealth Management LLC’s holdings in Ameriprise Financial were worth $761,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. AE Wealth Management LLC grew its stake in Ameriprise Financial by 25.3% during the fourth quarter. AE Wealth Management LLC now owns 2,847 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 575 shares in the last quarter. Raymond James Trust N.A. grew its position in Ameriprise Financial by 1.1% during the 4th quarter. Raymond James Trust N.A. now owns 14,949 shares of the financial services provider’s stock worth $2,490,000 after purchasing an additional 158 shares during the last quarter. Legacy Private Trust Co. grew its position in Ameriprise Financial by 7.3% during the 4th quarter. Legacy Private Trust Co. now owns 23,725 shares of the financial services provider’s stock worth $3,952,000 after purchasing an additional 1,620 shares during the last quarter. UNIVEST FINANCIAL Corp purchased a new stake in Ameriprise Financial during the 4th quarter worth approximately $3,347,000. Finally, DNB Asset Management AS grew its position in Ameriprise Financial by 18.2% during the 4th quarter. DNB Asset Management AS now owns 17,551 shares of the financial services provider’s stock worth $2,924,000 after purchasing an additional 2,704 shares during the last quarter. Institutional investors and hedge funds own 81.32% of the company’s stock.
Shares of AMP traded up $1.17 during trading hours on Friday, hitting $173.12. The stock had a trading volume of 2,666 shares, compared to its average volume of 702,416. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a 50-day moving average price of $166.65 and a 200 day moving average price of $149.39. Ameriprise Financial, Inc. has a fifty-two week low of $115.56 and a fifty-two week high of $171.95. The firm has a market capitalization of $22.50 billion, a price-to-earnings ratio of 11.58 and a beta of 1.86.
Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.09 by $0.15. Ameriprise Financial had a net margin of 15.31% and a return on equity of 37.50%. The firm had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the business posted $3.74 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts predict that Ameriprise Financial, Inc. will post 16.25 EPS for the current fiscal year.
Several analysts have weighed in on AMP shares. Zacks Investment Research downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 target price on the stock. in a research report on Wednesday, October 16th. Morgan Stanley downgraded shares of Ameriprise Financial from an “overweight” rating to an “equal weight” rating and set a $175.00 price objective on the stock. in a report on Tuesday, January 7th. They noted that the move was a valuation call. Royal Bank of Canada raised shares of Ameriprise Financial from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $149.00 to $190.00 in a report on Friday, January 3rd. Finally, ValuEngine downgraded shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 24th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Ameriprise Financial currently has a consensus rating of “Buy” and an average price target of $179.25.
In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 8,100 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $167.50, for a total transaction of $1,356,750.00. Following the completion of the transaction, the insider now directly owns 19,669 shares in the company, valued at $3,294,557.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Robert Woerner sold 6,477 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $154.13, for a total transaction of $998,300.01. Following the transaction, the insider now owns 27,196 shares of the company’s stock, valued at $4,191,719.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,880 shares of company stock valued at $2,403,127. Company insiders own 1.90% of the company’s stock.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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