Pacer Advisors Inc. Has $5.69 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Pacer Advisors Inc. reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 44.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,680 shares of the financial services provider's stock after selling 8,387 shares during the quarter. Pacer Advisors Inc.'s holdings in Ameriprise Financial were worth $5,686,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geller Advisors LLC boosted its stake in Ameriprise Financial by 2.2% during the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider's stock valued at $412,000 after acquiring an additional 19 shares during the last quarter. Cerro Pacific Wealth Advisors LLC lifted its position in shares of Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock worth $307,000 after purchasing an additional 19 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its stake in Ameriprise Financial by 2.0% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider's stock worth $480,000 after purchasing an additional 20 shares in the last quarter. Dakota Wealth Management raised its stake in Ameriprise Financial by 2.7% during the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock valued at $425,000 after buying an additional 21 shares in the last quarter. Finally, Ledyard National Bank lifted its holdings in Ameriprise Financial by 3.2% during the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider's stock worth $344,000 after buying an additional 23 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating on the stock in a report on Friday, January 10th. Finally, UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus target price of $503.22.

Ameriprise Financial Stock Performance

AMP stock traded down $27.18 during trading on Thursday, reaching $547.95. 1,173,432 shares of the company's stock were exchanged, compared to its average volume of 514,026. Ameriprise Financial, Inc. has a 1-year low of $378.05 and a 1-year high of $582.05. The firm has a market cap of $53.16 billion, a PE ratio of 21.03, a P/E/G ratio of 0.85 and a beta of 1.36. The company's fifty day moving average price is $548.61 and its 200-day moving average price is $496.50. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 15.99% and a return on equity of 68.52%. On average, research analysts expect that Ameriprise Financial, Inc. will post 33.96 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is presently 22.73%.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares of the company's stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

Ameriprise Financial 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.