Gradient Investments LLC Lowers Position in Ameriprise Financial, Inc. (NYSE:AMP)

Gradient Investments LLC reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 12.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,489 shares of the financial services provider's stock after selling 5,836 shares during the period. Gradient Investments LLC's holdings in Ameriprise Financial were worth $17,314,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AMP. Wesbanco Bank Inc. raised its stake in shares of Ameriprise Financial by 13.4% during the 1st quarter. Wesbanco Bank Inc. now owns 599 shares of the financial services provider's stock worth $263,000 after buying an additional 71 shares in the last quarter. Summit Trail Advisors LLC raised its position in Ameriprise Financial by 12.5% in the first quarter. Summit Trail Advisors LLC now owns 602 shares of the financial services provider's stock worth $264,000 after acquiring an additional 67 shares in the last quarter. KLR Investment Advisors LLC lifted its holdings in Ameriprise Financial by 4.2% in the first quarter. KLR Investment Advisors LLC now owns 1,679 shares of the financial services provider's stock valued at $707,000 after acquiring an additional 67 shares during the period. Revisor Wealth Management LLC acquired a new stake in Ameriprise Financial in the first quarter valued at $363,000. Finally, PFG Investments LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter worth $568,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Dawn M. Brockman sold 224 shares of the firm's 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 owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,346 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $2,485,474.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The disclosure for this sale can be found here. Insiders sold a total of 74,326 shares of company stock valued at $29,775,593 over the last 90 days. Insiders own 0.73% of the company's stock.

Ameriprise Financial Price Performance

AMP stock traded up $3.94 on Friday, reaching $418.95. The company had a trading volume of 279,712 shares, compared to its average volume of 538,489. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The company's fifty day moving average is $420.18 and its 200 day moving average is $383.81. The company has a market cap of $41.97 billion, a P/E ratio of 14.26, a PEG ratio of 0.71 and a beta of 1.35. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating analysts' consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the company earned $7.25 earnings per share. The business's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts forecast that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, May 3rd. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.41%. Ameriprise Financial's payout ratio is 18.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an "equal weight" rating in a report on Tuesday, April 9th. The Goldman Sachs Group lifted their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a "buy" rating in a research report on Wednesday, March 27th. Royal Bank of Canada upped their price target on Ameriprise Financial from $470.00 to $480.00 and gave the stock an "outperform" rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the stock a "market perform" rating in a report on Wednesday, April 10th. Finally, UBS Group boosted 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 equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of "Hold" and a consensus price target of $449.57.

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.

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