Pacer Advisors Inc. decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 31.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,152 shares of the financial services provider’s stock after selling 2,844 shares during the period. Pacer Advisors Inc.’s holdings in Ameriprise Financial were worth $2,734,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMP. Norges Bank bought a new stake in Ameriprise Financial in the fourth quarter valued at $742,438,000. AQR Capital Management LLC grew its position in shares of Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after acquiring an additional 496,319 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Ameriprise Financial by 1,440.2% in the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock worth $228,572,000 after acquiring an additional 435,885 shares during the period. First Trust Advisors LP lifted its position in Ameriprise Financial by 85.5% in the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock valued at $406,216,000 after purchasing an additional 381,754 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Ameriprise Financial by 140.5% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.
Ameriprise Financial Stock Down 1.5%
AMP stock opened at $551.27 on Friday. The firm’s 50-day moving average is $495.41 and its two-hundred day moving average is $478.07. The company has a market capitalization of $49.56 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $565.05. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 0.99.
Ameriprise Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be given a dividend of $1.70 per share. The ex-dividend date is Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on AMP shares. Piper Sandler upped their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Jefferies Financial Group lifted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday, July 10th. Morgan Stanley increased their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.33.
Read Our Latest Research Report on AMP
Insider Activity
In other news, CFO Walter Stanley Berman sold 11,012 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 33,371 shares of company stock worth $17,668,423. 0.60% of the stock is owned by company insiders.
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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