Cambria Investment Management L.P. Sells 1,501 Shares of Ameriprise Financial, Inc. $AMP

Cambria Investment Management L.P. decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,323 shares of the financial services provider’s stock after selling 1,501 shares during the period. Cambria Investment Management L.P.’s holdings in Ameriprise Financial were worth $10,475,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. AE Wealth Management LLC boosted its stake in shares of Ameriprise Financial by 104.2% in the 3rd quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock worth $1,946,000 after buying an additional 2,022 shares during the last quarter. National Pension Service grew its holdings in shares of Ameriprise Financial by 4.6% in the third quarter. National Pension Service now owns 152,980 shares of the financial services provider’s stock valued at $75,151,000 after acquiring an additional 6,724 shares in the last quarter. Optimize Financial Inc purchased a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $453,000. Arjuna Capital increased its position in shares of Ameriprise Financial by 14.6% during the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock valued at $6,196,000 after acquiring an additional 1,610 shares during the last quarter. Finally, Candriam S.C.A. lifted its holdings in Ameriprise Financial by 83.9% during the third quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock worth $31,361,000 after acquiring an additional 29,116 shares during the period. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AMP. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Jefferies Financial Group raised their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Morgan Stanley lifted their target price on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $555.67.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. This trade represents a 29.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,052,529.98. The trade was a 55.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 16,658 shares of company stock worth $8,998,675. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Price Performance

AMP opened at $432.15 on Thursday. The firm has a 50-day moving average price of $487.43 and a 200-day moving average price of $483.26. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $550.18. 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 company has a market capitalization of $39.40 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.02 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same period in the prior year, the company posted $9.54 EPS. Ameriprise Financial’s revenue was up 10.2% compared to the same quarter last year. Equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

Ameriprise Financial Company Profile

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.