Jefferies Financial Group Inc. trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 83.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,129 shares of the financial services provider’s stock after selling 11,057 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Ameriprise Financial were worth $1,044,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Ameriprise Financial by 0.4% in the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after purchasing an additional 18,879 shares in the last quarter. Boston Partners boosted its holdings in Ameriprise Financial by 1.1% in the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after purchasing an additional 13,172 shares in the last quarter. Legal & General Group Plc boosted its holdings in Ameriprise Financial by 11.5% in the third quarter. Legal & General Group Plc now owns 634,413 shares of the financial services provider’s stock valued at $311,655,000 after purchasing an additional 65,687 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Ameriprise Financial by 18.4% in the third quarter. AQR Capital Management LLC now owns 589,570 shares of the financial services provider’s stock valued at $289,626,000 after purchasing an additional 91,697 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Ameriprise Financial by 140.5% in the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock valued at $231,805,000 after purchasing an additional 275,659 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Ameriprise Financial
In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the sale, the director owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This trade represents a 50.61% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by corporate insiders.
Ameriprise Financial Trading Down 0.8%
Ameriprise Financial (NYSE:AMP – Get Free Report) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the business posted $9.50 EPS. The company’s revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.
Ameriprise Financial Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on AMP shares. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating for the company. Weiss Ratings downgraded Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Morgan Stanley raised their price target on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $543.22.
Get Our Latest Stock Analysis on Ameriprise Financial
Ameriprise Financial 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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