Lecap Asset Management Ltd. cut its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 80.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 827 shares of the financial services provider's stock after selling 3,353 shares during the period. Lecap Asset Management Ltd.'s holdings in Ameriprise Financial were worth $406,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in AMP. Brighton Jones LLC lifted its holdings in shares of Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after purchasing an additional 50 shares during the last quarter. Empowered Funds LLC increased its position in Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock worth $2,915,000 after buying an additional 634 shares during the period. Sivia Capital Partners LLC lifted its stake in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock valued at $312,000 after buying an additional 72 shares during the last quarter. Schnieders Capital Management LLC. acquired a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $313,000. Finally, Gabelli Funds LLC grew its position in shares of Ameriprise Financial by 224.8% during the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock worth $2,253,000 after acquiring an additional 2,922 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.
Insider Buying and Selling at Ameriprise Financial
In other news, insider Gumer Alvero sold 4,658 shares of the company's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the transaction, the insider directly owned 4,621 shares of the company's stock, valued at $2,508,648.48. This represents a 50.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares of the company's stock, valued at $6,464,239.92. This represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 16,658 shares of company stock valued at $8,998,675. 0.60% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several research firms recently commented on AMP. Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. BMO Capital Markets restated a "market perform" rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Piper Sandler reduced their price objective on Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating for the company in a research note on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a "hold" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $544.22.
Get Our Latest Analysis on Ameriprise Financial
Ameriprise Financial Trading Up 0.1%
NYSE AMP opened at $456.71 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $41.64 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.11 and a beta of 1.27. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The firm has a 50-day moving average price of $456.13 and a 200 day moving average price of $475.14.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.33 by $0.50. The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $9.54 EPS. Equities research analysts expect that Ameriprise Financial, Inc. will post 41.31 EPS for the current year.
Ameriprise Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were given a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial's dividend payout ratio is presently 17.60%.
About Ameriprise Financial
(
Free Report)
Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.
Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.
Further Reading
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