Altium Wealth Management LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,570 shares of the financial services provider’s stock after selling 170 shares during the quarter. Altium Wealth Management LLC’s holdings in Ameriprise Financial were worth $761,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in AMP. Lenox Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $25,000. KCS Wealth Advisory acquired a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $26,000. Griffin Asset Management Inc. acquired a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $28,000. Capital Bank & Trust Co acquired a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $29,000. Finally, Evoke Wealth LLC acquired a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 81.32% of the company’s stock.
NYSE AMP traded up $1.17 on Friday, reaching $173.12. The company had a trading volume of 2,666 shares, compared to its average volume of 702,416. The firm has a market capitalization of $22.50 billion, a PE ratio of 11.58 and a beta of 1.86. Ameriprise Financial, Inc. has a 1 year low of $115.56 and a 1 year high of $171.95. The firm has a 50-day moving average of $166.65 and a 200-day moving average of $149.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.83 and a quick ratio of 0.83.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $4.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.09 by $0.15. Ameriprise Financial had a return on equity of 37.50% and a net margin of 15.31%. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the prior year, the company posted $3.74 EPS. Ameriprise Financial’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 EPS for the current fiscal year.
A number of research analysts have recently commented on AMP shares. Morgan Stanley downgraded shares of Ameriprise Financial from an “overweight” rating to an “equal weight” rating and set a $175.00 price objective for the company. in a research note on Tuesday, January 7th. They noted that the move was a valuation call. Royal Bank of Canada raised shares of Ameriprise Financial from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $149.00 to $190.00 in a research note on Friday, January 3rd. 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. Finally, ValuEngine downgraded shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 24th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Ameriprise Financial presently has a consensus rating of “Buy” and a consensus price target of $179.25.
In related news, VP Karen Wilson Thissen sold 303 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $158.67, for a total transaction of $48,077.01. Following the sale, the vice president now directly owns 14,599 shares of the company’s stock, valued at approximately $2,316,423.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Robert Woerner sold 6,477 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $154.13, for a total value of $998,300.01. Following the sale, the insider now directly owns 27,196 shares in the company, valued at $4,191,719.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,880 shares of company stock worth $2,403,127. 1.90% of the stock is currently owned by corporate insiders.
Ameriprise Financial Company Profile
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.
Further Reading: Dividend Achievers
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