DAVENPORT & Co LLC Sells 824 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

DAVENPORT & Co LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,163 shares of the financial services provider’s stock after selling 824 shares during the quarter. DAVENPORT & Co LLC’s holdings in Ameriprise Financial were worth $9,558,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp raised its stake in Ameriprise Financial by 0.7% during the 2nd quarter. State Street Corp now owns 4,651,183 shares of the financial services provider’s stock worth $1,544,937,000 after buying an additional 32,632 shares during the period. Morgan Stanley raised its stake in Ameriprise Financial by 9.0% during the 4th quarter. Morgan Stanley now owns 2,375,581 shares of the financial services provider’s stock worth $739,686,000 after buying an additional 195,537 shares during the period. Nuveen Asset Management LLC raised its stake in Ameriprise Financial by 29.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock worth $555,952,000 after buying an additional 382,811 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Ameriprise Financial by 106,308.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock worth $494,335,000 after buying an additional 1,586,121 shares during the period. Finally, Norges Bank acquired a new stake in Ameriprise Financial during the 4th quarter worth $389,527,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares in the company, valued at $3,056,378. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the sale, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,161 shares of company stock worth $35,560,647. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Evercore ISI downgraded Ameriprise Financial from an “outperform” rating to an “in-line” rating and lifted their price target for the company from $385.00 to $400.00 in a research note on Thursday, January 4th. Raymond James assumed coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating on the stock. UBS Group lifted their price target on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $394.00 to $400.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $428.83.

Check Out Our Latest Stock Analysis on AMP

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $436.22 on Thursday. The stock has a market capitalization of $43.70 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 0.81 and a beta of 1.36. The business has a 50-day moving average of $408.74 and a 200-day moving average of $370.24. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a fifty-two week low of $279.85 and a fifty-two week high of $440.64.

Ameriprise Financial (NYSE:AMPGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, beating the consensus estimate of $7.67 by $0.08. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. Ameriprise Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.94 EPS. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 34.2 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial’s payout ratio is currently 22.78%.

Ameriprise Financial Profile

(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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Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMPFree Report).

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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