Cerity Partners LLC Has $11.59 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Cerity Partners LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 280.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,502 shares of the financial services provider's stock after purchasing an additional 22,487 shares during the period. Cerity Partners LLC's holdings in Ameriprise Financial were worth $11,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AMP. Fairfield Bush & CO. purchased a new position in shares of Ameriprise Financial during the first quarter worth $53,000. Synovus Financial Corp raised its holdings in shares of Ameriprise Financial by 2.9% during the first quarter. Synovus Financial Corp now owns 1,961 shares of the financial services provider's stock worth $588,000 after purchasing an additional 56 shares during the last quarter. Aviva PLC raised its holdings in shares of Ameriprise Financial by 23.7% during the first quarter. Aviva PLC now owns 45,024 shares of the financial services provider's stock worth $13,523,000 after purchasing an additional 8,625 shares during the last quarter. Prudential PLC purchased a new position in shares of Ameriprise Financial during the first quarter worth $724,000. Finally, Cetera Investment Advisers raised its holdings in shares of Ameriprise Financial by 62.5% during the first quarter. Cetera Investment Advisers now owns 2,900 shares of the financial services provider's stock worth $871,000 after purchasing an additional 1,115 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of recent analyst reports. Evercore ISI lifted their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an "in-line" rating in a report on Thursday. Royal Bank of Canada boosted their target price 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. Raymond James began coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They set a "market perform" rating for the company. UBS Group upped their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday, January 25th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a "market perform" rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of "Hold" and a consensus target price of $441.00.

Insider Activity

In other news, CEO William F. Truscott sold 9,689 shares of the company's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total value of $3,780,841.58. Following the transaction, the chief executive officer now directly owns 12,126 shares in the company, valued at approximately $4,731,807.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William F. Truscott sold 9,689 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares in the company, valued at $4,731,807.72. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock valued at $35,560,647 in the last 90 days. Company insiders own 0.96% of the company's stock.

Ameriprise Financial Trading Down 0.6 %

Shares of Ameriprise Financial stock traded down $2.52 during mid-day trading on Monday, hitting $411.18. The stock had a trading volume of 569,520 shares, compared to its average volume of 484,259. The firm has a 50-day moving average of $415.27 and a two-hundred day moving average of $375.94. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The firm has a market cap of $41.20 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results 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. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The business had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.90 billion. During the same quarter in the prior year, the company posted $6.94 EPS. The business's revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

About Ameriprise Financial

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.