UBS Asset Management Americas Inc. decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.8% in the 4th quarter, HoldingsChannel reports. The firm owned 697,231 shares of the financial services provider’s stock after selling 27,769 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Ameriprise Financial were worth $118,160,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in AMP. Victory Capital Management Inc. grew its stake in shares of Ameriprise Financial by 499.6% in the third quarter. Victory Capital Management Inc. now owns 552,144 shares of the financial services provider’s stock worth $81,999,000 after purchasing an additional 460,058 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Ameriprise Financial by 147.7% during the third quarter. Canada Pension Plan Investment Board now owns 504,364 shares of the financial services provider’s stock valued at $74,903,000 after buying an additional 300,748 shares in the last quarter. Renaissance Group LLC boosted its stake in Ameriprise Financial by 12,127.8% during the third quarter. Renaissance Group LLC now owns 219,978 shares of the financial services provider’s stock valued at $32,669,000 after buying an additional 218,179 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Ameriprise Financial by 227.1% during the third quarter. BNP Paribas Arbitrage SA now owns 291,634 shares of the financial services provider’s stock valued at $43,311,000 after buying an additional 202,466 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Ameriprise Financial during the third quarter valued at about $22,262,000. 80.51% of the stock is owned by institutional investors.
In related news, insider David Kent Stewart sold 603 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $160.72, for a total value of $96,914.16. Following the completion of the sale, the insider now directly owns 20,081 shares of the company’s stock, valued at approximately $3,227,418.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 7,329 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $169.47, for a total value of $1,242,045.63. Following the completion of the sale, the insider now directly owns 37,991 shares of the company’s stock, valued at $6,438,334.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,628 shares of company stock valued at $8,570,993. Company insiders own 1.50% of the company’s stock.
Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.08 by ($1.90). The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Ameriprise Financial had a return on equity of 31.03% and a net margin of 12.31%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 earnings per share. research analysts expect that Ameriprise Financial, Inc. will post 14.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, February 16th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.08%. The ex-dividend date is Thursday, February 15th. Ameriprise Financial’s dividend payout ratio is currently 35.17%.
AMP has been the subject of several research reports. Royal Bank of Canada set a $155.00 target price on Ameriprise Financial and gave the company a “sector perform” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Wednesday, January 10th. SunTrust Banks raised their target price on Ameriprise Financial from $140.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Morgan Stanley raised their target price on Ameriprise Financial from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, ValuEngine cut Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $164.98.
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Ameriprise Financial Company Profile
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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