Wedge Capital Management L L P NC decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 8.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 187,200 shares of the financial services provider’s stock after selling 17,451 shares during the period. Wedge Capital Management L L P NC’s holdings in Ameriprise Financial were worth $31,184,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Lenox Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the 3rd quarter valued at $25,000. KCS Wealth Advisory purchased a new position in Ameriprise Financial in the third quarter valued at about $26,000. Griffin Asset Management Inc. purchased a new stake in shares of Ameriprise Financial in the second quarter worth about $28,000. Capital Bank & Trust Co acquired a new stake in shares of Ameriprise Financial in the second quarter valued at about $29,000. Finally, Evoke Wealth LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 81.32% of the company’s stock.
AMP has been the topic of several recent research reports. Zacks Investment Research lowered Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 price target on the stock. in a research report on Wednesday, October 16th. Morgan Stanley cut Ameriprise Financial from an “overweight” rating to an “equal weight” rating and set a $175.00 price target for the company. in a report on Tuesday, January 7th. They noted that the move was a valuation call. Royal Bank of Canada raised shares of Ameriprise Financial from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $149.00 to $190.00 in a research report on Friday, January 3rd. Finally, ValuEngine lowered shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 24th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $179.25.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $4.24 earnings per share for the quarter, beating the consensus estimate of $4.09 by $0.15. Ameriprise Financial had a return on equity of 37.50% and a net margin of 15.31%. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period last year, the firm earned $3.74 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 16.25 earnings per share for the current year.
In other Ameriprise Financial news, insider John Robert Woerner sold 6,477 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $154.13, for a total transaction of $998,300.01. Following the sale, the insider now directly owns 27,196 shares in the company, valued at approximately $4,191,719.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 8,100 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $167.50, for a total value of $1,356,750.00. Following the sale, the insider now owns 19,669 shares in the company, valued at $3,294,557.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,880 shares of company stock worth $2,403,127. Insiders own 1.90% of the company’s stock.
About Ameriprise Financial
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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