Aperio Group LLC Reduces Position in Ameriprise Financial (AMP)

Aperio Group LLC decreased its stake in Ameriprise Financial (NYSE:AMP) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,337 shares of the financial services provider’s stock after selling 6,388 shares during the period. Aperio Group LLC owned about 0.09% of Ameriprise Financial worth $19,134,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Icon Wealth Partners LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $101,000. Lee Financial Co lifted its stake in Ameriprise Financial by 99.4% in the 4th quarter. Lee Financial Co now owns 682 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 340 shares during the last quarter. Virtue Capital Management LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $128,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Ameriprise Financial by 150.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 780 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 468 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $133,000. 88.24% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, March 21st. Sandler O’Neill set a $165.00 price objective on shares of Ameriprise Financial and gave the company a “hold” rating in a research note on Monday, February 12th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. SunTrust Banks increased their price objective on shares of Ameriprise Financial to $180.00 and gave the company a “hold” rating in a research note on Friday, January 19th. Finally, Royal Bank of Canada set a $158.00 price objective on shares of Ameriprise Financial and gave the company a “hold” rating in a research note on Tuesday, April 24th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $167.22.

In other Ameriprise Financial news, CEO James M. Cracchiolo purchased 7,400 shares of the company’s stock in a transaction dated Thursday, May 10th. The stock was purchased at an average price of $136.04 per share, with a total value of $1,006,696.00. Following the completion of the purchase, the chief executive officer now owns 242,416 shares of the company’s stock, valued at $32,978,272.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Randy Kupper sold 4,381 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $159.61, for a total transaction of $699,251.41. Following the transaction, the executive vice president now directly owns 21,607 shares of the company’s stock, valued at approximately $3,448,693.27. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Ameriprise Financial opened at $141.45 on Friday, MarketBeat.com reports. The firm has a market cap of $19.98 billion, a PE ratio of 11.53 and a beta of 1.86. Ameriprise Financial has a 52-week low of $138.01 and a 52-week high of $139.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.87.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Monday, April 23rd. The financial services provider reported $3.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.46 by $0.24. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.09 billion. Ameriprise Financial had a net margin of 13.59% and a return on equity of 33.67%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.52 earnings per share. research analysts predict that Ameriprise Financial will post 14.44 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 18th. Stockholders of record on Monday, May 7th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, May 4th. This represents a $3.60 annualized dividend and a dividend yield of 2.55%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $0.83. Ameriprise Financial’s dividend payout ratio (DPR) is presently 29.34%.

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 Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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