DAVENPORT & Co LLC Sells 1,947 Shares of Ameriprise Financial, Inc. $AMP

DAVENPORT & Co LLC lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 8.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,361 shares of the financial services provider’s stock after selling 1,947 shares during the period. DAVENPORT & Co LLC’s holdings in Ameriprise Financial were worth $10,964,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares in the last quarter. Empowered Funds LLC increased its position in Ameriprise Financial by 11.8% during the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after purchasing an additional 634 shares in the last quarter. Sivia Capital Partners LLC increased its position in Ameriprise Financial by 14.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 72 shares in the last quarter. Schnieders Capital Management LLC. bought a new position in Ameriprise Financial in the 2nd quarter valued at approximately $313,000. Finally, Boston Partners lifted its stake in Ameriprise Financial by 3.1% in the 2nd quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock valued at $629,650,000 after purchasing an additional 35,500 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. This represents a 29.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,658 shares of company stock worth $8,998,675 over the last ninety days. 0.73% of the stock is owned by insiders.

Ameriprise Financial Price Performance

AMP stock opened at $451.76 on Thursday. The company has a fifty day moving average price of $481.20 and a 200-day moving average price of $481.00. The company has a market capitalization of $41.19 billion, a P/E ratio of 12.42, a PEG ratio of 1.04 and a beta of 1.27. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. Ameriprise Financial’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.54 earnings per share. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Analysts Set New Price Targets

A number of research firms have weighed in on AMP. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Jefferies Financial Group upped their target price on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $555.67.

Ameriprise Financial 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.