Steward Partners Investment Advisory LLC trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.8% during the first quarter, Holdings Channel reports. The institutional investor owned 16,081 shares of the financial services provider’s stock after selling 640 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Ameriprise Financial were worth $2,060,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of AMP. Laurel Wealth Advisors LLC purchased a new position in Ameriprise Financial during the 4th quarter worth $30,000. Enlightenment Research LLC purchased a new position in Ameriprise Financial during the 4th quarter worth $31,000. Oregon Public Employees Retirement Fund grew its position in Ameriprise Financial by 9,885.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,413,630 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 3,379,445 shares during the last quarter. Canton Hathaway LLC purchased a new position in Ameriprise Financial during the 1st quarter worth $36,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA grew its position in Ameriprise Financial by 40.4% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 278 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 80 shares during the last quarter. 85.05% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Barclays raised their price objective on shares of Ameriprise Financial from $146.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. ValuEngine raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. UBS Group raised their price objective on shares of Ameriprise Financial from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Citigroup raised their price objective on shares of Ameriprise Financial from $153.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $159.63.
Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $3.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.61 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.03 billion. Ameriprise Financial had a net margin of 14.85% and a return on equity of 37.97%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.70 earnings per share. On average, equities analysts predict that Ameriprise Financial, Inc. will post 15.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a $0.97 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.88 annualized dividend and a dividend yield of 2.63%. Ameriprise Financial’s payout ratio is presently 24.10%.
In other news, EVP Colin Moore sold 24,032 shares of Ameriprise Financial stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $133.64, for a total value of $3,211,636.48. Following the sale, the executive vice president now owns 56,447 shares of the company’s stock, valued at $7,543,577.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.
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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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