Crestline Management LP increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 395.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,996 shares of the financial services provider’s stock after buying an additional 47,100 shares during the quarter. Ameriprise Financial comprises approximately 1.0% of Crestline Management LP’s holdings, making the stock its 6th largest holding. Crestline Management LP’s holdings in Ameriprise Financial were worth $9,998,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Icon Wealth Partners LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth $101,000. Lee Financial Co increased its stake in Ameriprise Financial by 99.4% in the fourth quarter. Lee Financial Co now owns 682 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 340 shares during the period. Virtue Capital Management LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth $128,000. Whittier Trust Co. of Nevada Inc. increased its stake in Ameriprise Financial by 150.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 780 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 468 shares during the period. Finally, Crewe Advisors LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth $133,000. Institutional investors own 86.73% of the company’s stock.
In other news, insider David Kent Stewart sold 4,817 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $171.51, for a total transaction of $826,163.67. Following the transaction, the insider now owns 29,727 shares in the company, valued at $5,098,477.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 31,379 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $173.64, for a total value of $5,448,649.56. Following the transaction, the chief executive officer now owns 67,058 shares in the company, valued at approximately $11,643,951.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,077 shares of company stock worth $7,931,285. Insiders own 1.50% of the company’s stock.
Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.18 EPS for the quarter, missing the consensus estimate of $3.08 by ($1.90). The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Ameriprise Financial had a net margin of 12.31% and a return on equity of 31.03%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.46 EPS. research analysts forecast that Ameriprise Financial, Inc. will post 14.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.32 annualized dividend and a dividend yield of 2.09%. Ameriprise Financial’s dividend payout ratio is currently 35.17%.
AMP has been the topic of a number of recent analyst reports. ValuEngine lowered Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Royal Bank of Canada set a $168.00 target price on Ameriprise Financial and gave the stock a “hold” rating in a research note on Saturday, December 16th. Zacks Investment Research lowered Ameriprise Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. SunTrust Banks increased their target price on Ameriprise Financial to $180.00 and gave the stock a “hold” rating in a research note on Friday, January 19th. Finally, Morgan Stanley increased their target price on Ameriprise Financial from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $173.67.
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About Ameriprise Financial
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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