Mirae Asset Global Investments Co. Ltd. Has $9.78 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,750 shares of the financial services provider's stock after selling 2,607 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Ameriprise Financial were worth $9,781,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC grew its holdings in shares of Ameriprise Financial by 106,308.4% during the fourth 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 in the last quarter. Norges Bank purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $389,527,000. Nuveen Asset Management LLC raised its holdings in Ameriprise Financial by 29.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider's stock valued at $555,952,000 after acquiring an additional 382,811 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Ameriprise Financial by 123.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 498,824 shares of the financial services provider's stock worth $155,318,000 after purchasing an additional 275,720 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Ameriprise Financial by 33.5% during the 1st quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider's stock worth $324,031,000 after purchasing an additional 270,755 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the sale, the director now owns 12,500 shares of the company's stock, valued at approximately $4,832,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the company'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 value of $97,245.12. Following the transaction, the senior vice president now directly owns 1,288 shares of the company's stock, valued at approximately $559,159.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total value of $1,546,400.00. Following the transaction, the director now owns 12,500 shares of the company's stock, valued at $4,832,500. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,161 shares of company stock worth $35,560,647. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Down 2.1 %

NYSE:AMP traded down $8.78 during mid-day trading on Friday, hitting $413.70. The company had a trading volume of 630,554 shares, compared to its average volume of 482,458. The business has a fifty day simple moving average of $414.84 and a 200-day simple moving average of $374.70. The firm has a market capitalization of $41.45 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.69 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, beating the consensus estimate of $7.67 by $0.08. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.90 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The company's revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $6.94 EPS. Equities analysts forecast that Ameriprise Financial, Inc. will post 34.61 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.31%. Ameriprise Financial's payout ratio is currently 22.78%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a "market perform" rating in a research note on Wednesday. The Goldman Sachs Group boosted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a "buy" rating in a report on Wednesday, March 27th. Royal Bank of Canada increased their price target on shares of Ameriprise Financial from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Monday, January 22nd. Evercore ISI upped their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the stock an "in-line" rating in a report on Thursday. Finally, UBS Group increased their target price on Ameriprise Financial from $440.00 to $445.00 and gave the stock a "buy" rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $441.00.

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.