Profund Advisors LLC grew its holdings in shares of Ameriprise Financial (NYSE:AMP) by 35.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,821 shares of the financial services provider’s stock after acquiring an additional 1,262 shares during the period. Profund Advisors LLC’s holdings in Ameriprise Financial were worth $817,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in shares of Ameriprise Financial by 4.1% during the third quarter. Wells Fargo & Company MN now owns 2,195,435 shares of the financial services provider’s stock valued at $326,044,000 after acquiring an additional 86,514 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Ameriprise Financial by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,539,034 shares of the financial services provider’s stock worth $260,259,000 after buying an additional 40,199 shares during the period. Allianz Asset Management GmbH increased its position in shares of Ameriprise Financial by 19.0% during the fourth quarter. Allianz Asset Management GmbH now owns 936,100 shares of the financial services provider’s stock worth $158,640,000 after buying an additional 149,566 shares during the period. Legal & General Group Plc increased its position in shares of Ameriprise Financial by 0.4% during the third quarter. Legal & General Group Plc now owns 773,225 shares of the financial services provider’s stock worth $114,833,000 after buying an additional 2,716 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in shares of Ameriprise Financial by 4.5% during the third quarter. Parametric Portfolio Associates LLC now owns 691,734 shares of the financial services provider’s stock worth $102,729,000 after buying an additional 29,610 shares during the period. 86.73% of the stock is owned by hedge funds and other institutional investors.
In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 5,500 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $174.04, for a total value of $957,220.00. Following the transaction, the executive vice president now directly owns 8,138 shares of the company’s stock, valued at $1,416,337.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $5,448,649.56. Following the completion of the transaction, the chief executive officer now directly owns 67,058 shares in the company, valued at $11,643,951.12. The disclosure for this sale can be found here. Insiders sold 41,260 shares of company stock valued at $7,105,121 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
Several research firms have recently weighed in on AMP. Zacks Investment Research cut shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, March 21st. Sandler O’Neill set a $165.00 price objective on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Monday, February 12th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $187.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. SunTrust Banks increased their price objective on shares of Ameriprise Financial to $180.00 and gave the stock a “hold” rating in a research report on Friday, January 19th. Finally, Royal Bank of Canada set a $168.00 price objective on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Saturday, December 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $169.22.
NYSE:AMP traded down $4.66 during trading hours on Friday, reaching $141.31. The company had a trading volume of 763,089 shares, compared to its average volume of 942,069. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $20,678.17, a price-to-earnings ratio of 11.52 and a beta of 1.84. Ameriprise Financial has a twelve month low of $118.84 and a twelve month high of $183.90.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $3.08 by ($1.90). The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.05 billion. Ameriprise Financial had a return on equity of 31.03% and a net margin of 12.31%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.46 earnings per share. equities analysts predict that Ameriprise Financial will post 14.38 earnings per share for the current fiscal year.
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Ameriprise Financial Company Profile
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 Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
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