Principal Financial Group Inc. lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 16.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 282,581 shares of the financial services provider’s stock after selling 55,355 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Ameriprise Financial worth $43,548,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nachman Norwood & Parrott Inc bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth $26,000. Provident Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth $32,000. Ovata Capital Management Ltd bought a new stake in shares of Ameriprise Financial in the 2nd quarter worth $36,000. WASHINGTON TRUST Co raised its stake in shares of Ameriprise Financial by 1,200.0% in the 3rd quarter. WASHINGTON TRUST Co now owns 260 shares of the financial services provider’s stock worth $40,000 after buying an additional 240 shares in the last quarter. Finally, Cerebellum GP LLC bought a new stake in shares of Ameriprise Financial in the 2nd quarter worth $58,000. 84.04% of the stock is currently owned by institutional investors.
In other Ameriprise Financial news, VP Karen Wilson Thissen sold 620 shares of the business’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $159.22, for a total value of $98,716.40. Following the transaction, the vice president now owns 14,164 shares in the company, valued at $2,255,192.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 10,927 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $167.73, for a total value of $1,832,785.71. Following the completion of the transaction, the insider now owns 52,161 shares in the company, valued at approximately $8,748,964.53. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. ValuEngine raised Ameriprise Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, September 11th. Royal Bank of Canada boosted their target price on Ameriprise Financial from $187.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Barclays assumed coverage on Ameriprise Financial in a research report on Thursday, August 13th. They set an “overweight” rating and a $195.00 target price on the stock. Morgan Stanley boosted their target price on Ameriprise Financial from $168.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Finally, Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $180.42.
Shares of AMP stock opened at $185.97 on Tuesday. Ameriprise Financial, Inc. has a 1-year low of $80.01 and a 1-year high of $188.57. The company has a current ratio of 0.80, a quick ratio of 0.84 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 13.32 and a beta of 1.78. The stock’s fifty day simple moving average is $167.31 and its 200-day simple moving average is $152.28.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Monday, November 2nd. The financial services provider reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.17 by $0.10. Ameriprise Financial had a return on equity of 33.79% and a net margin of 15.16%. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 13.9 EPS for the current year.
Ameriprise Financial announced that its Board of Directors has authorized a share repurchase program on Tuesday, September 29th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Monday, November 9th will be paid a $1.04 dividend. The ex-dividend date is Friday, November 6th. This represents a $4.16 dividend on an annualized basis and a yield of 2.24%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 25.84%.
About Ameriprise Financial
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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