Estabrook Capital Management Sells 865 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Estabrook Capital Management lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 83.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170 shares of the financial services provider's stock after selling 865 shares during the quarter. Estabrook Capital Management's holdings in Ameriprise Financial were worth $91,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Geller Advisors LLC increased its stake in Ameriprise Financial by 2.2% in the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider's stock worth $412,000 after acquiring an additional 19 shares during the last quarter. Cerro Pacific Wealth Advisors LLC increased its holdings in shares of Ameriprise Financial by 3.4% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock worth $307,000 after buying an additional 19 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock worth $37,000 after buying an additional 20 shares during the last quarter. HighPoint Advisor Group LLC raised its position in shares of Ameriprise Financial by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock valued at $1,419,000 after buying an additional 20 shares in the last quarter. Finally, Dakota Wealth Management grew its position in Ameriprise Financial by 2.7% in the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock worth $425,000 after acquiring an additional 21 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now directly owns 10,000 shares of the company's stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley increased their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods dropped their price objective on Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Finally, Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $517.44.

Ameriprise Financial Stock Up 0.9 %

Shares of AMP stock traded up $4.08 during midday trading on Monday, reaching $472.85. 120,133 shares of the stock were exchanged, compared to its average volume of 494,493. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The firm has a market cap of $45.45 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The company's 50 day moving average is $501.06 and its two-hundred day moving average is $523.45. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's payout ratio is 17.91%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.