Stifel Financial Corp cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,025 shares of the financial services provider’s stock after selling 2,430 shares during the period. Stifel Financial Corp’s holdings in Ameriprise Financial were worth $11,054,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AMP. Lenox Wealth Advisors LLC acquired a new position in Ameriprise Financial in the 3rd quarter worth $25,000. KCS Wealth Advisory acquired a new position in Ameriprise Financial in the 3rd quarter worth $26,000. Tortoise Investment Management LLC boosted its stake in Ameriprise Financial by 416.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 186 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares during the period. Griffin Asset Management Inc. acquired a new position in Ameriprise Financial in the 2nd quarter worth $28,000. Finally, Advantage Investment Management LLC acquired a new position in Ameriprise Financial in the 2nd quarter worth $29,000. 80.42% of the stock is owned by hedge funds and other institutional investors.
In related news, insider John Robert Woerner sold 6,477 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $154.13, for a total value of $998,300.01. Following the completion of the sale, the insider now directly owns 27,196 shares in the company, valued at approximately $4,191,719.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Karen Wilson Thissen sold 303 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $158.67, for a total transaction of $48,077.01. Following the completion of the sale, the vice president now owns 14,599 shares of the company’s stock, valued at $2,316,423.33. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
A number of research firms have recently commented on AMP. Zacks Investment Research downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 price objective for the company. in a research note on Wednesday, October 16th. Morgan Stanley reduced their price objective on shares of Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Tuesday, August 20th. ValuEngine upgraded shares of Ameriprise Financial from a “strong sell” rating to a “sell” rating in a research note on Monday, November 25th. Finally, Citigroup reduced their price objective on shares of Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. Ameriprise Financial has an average rating of “Buy” and an average target price of $173.00.
Ameriprise Financial stock opened at $162.56 on Tuesday. The firm has a 50-day moving average of $153.97 and a 200-day moving average of $144.83. Ameriprise Financial, Inc. has a one year low of $95.69 and a one year high of $165.78. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $21.45 billion, a price-to-earnings ratio of 10.88 and a beta of 1.87.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $4.24 EPS for the quarter, topping the Zacks’ consensus estimate of $4.09 by $0.15. Ameriprise Financial had a net margin of 15.31% and a return on equity of 37.50%. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the business posted $3.74 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 16.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, November 1st. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.39%. Ameriprise Financial’s dividend payout ratio is 25.97%.
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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