PNC Financial Services Group Inc. trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 388,502 shares of the financial services provider’s stock after selling 993 shares during the period. PNC Financial Services Group Inc. owned 0.43% of Ameriprise Financial worth $172,650,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of AMP. Brighton Jones LLC boosted its position in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 50 shares in the last quarter. Empowered Funds LLC raised its position in shares of Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after acquiring an additional 634 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 72 shares during the period. Schnieders Capital Management LLC. purchased a new position in shares of Ameriprise Financial in the 2nd quarter valued at approximately $313,000. Finally, Gabelli Funds LLC boosted its position in shares of Ameriprise Financial by 224.8% during the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock valued at $2,253,000 after purchasing an additional 2,922 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Morgan Stanley upped their price target on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Piper Sandler increased their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $553.67.
Insiders Place Their Bets
In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company’s stock.
Ameriprise Financial Stock Performance
Shares of AMP opened at $526.80 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The stock has a market cap of $47.36 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.94 and a beta of 1.16. The business’s 50 day moving average price is $474.03 and its 200-day moving average price is $474.45. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18.
Ameriprise Financial (NYSE:AMP – Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. The company had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $9.50 EPS. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current fiscal year.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.
Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.
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