Legal & General Group Plc trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 25.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 568,072 shares of the financial services provider's stock after selling 191,673 shares during the period. Legal & General Group Plc owned about 0.59% of Ameriprise Financial worth $302,459,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in AMP. Norges Bank acquired a new position in Ameriprise Financial during the 4th quarter valued at about $689,272,000. JPMorgan Chase & Co. raised its holdings in shares of Ameriprise Financial by 12.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock worth $2,556,683,000 after acquiring an additional 516,437 shares during the period. Proficio Capital Partners LLC raised its position in Ameriprise Financial by 79,679.4% in the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock valued at $197,943,000 after buying an additional 371,306 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock valued at $222,103,000 after buying an additional 338,298 shares during the last quarter. Finally, Amundi increased its position in shares of Ameriprise Financial by 48.0% during the 4th quarter. Amundi now owns 642,226 shares of the financial services provider's stock worth $343,546,000 after purchasing an additional 208,195 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.
Insiders Place Their Bets
In other Ameriprise Financial news, 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 value of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
AMP has been the topic of a number of recent analyst reports. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley increased their price objective 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 reiterated an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a report on Monday, April 7th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus target price of $517.44.
Check Out Our Latest Stock Report on AMP
Ameriprise Financial Price Performance
Shares of Ameriprise Financial stock traded up $7.95 during trading on Monday, reaching $476.72. 88,710 shares of the company's stock were exchanged, compared to its average volume of 494,377. The firm's 50-day moving average price is $501.06 and its 200 day moving average price is $523.45. The company has a market cap of $45.82 billion, a P/E ratio of 14.42, a PEG ratio of 1.15 and a beta of 1.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05.
Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its 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 net margin of 19.70% and a return on equity of 69.35%. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.
Ameriprise Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.24%. Ameriprise Financial's dividend payout ratio is currently 17.91%.
About Ameriprise Financial
(
Free Report)
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.
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