Northwestern Mutual Investment Management Company LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,984 shares of the financial services provider’s stock after selling 94 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Ameriprise Financial were worth $733,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in AMP. Lenox Wealth Advisors LLC purchased a new position in Ameriprise Financial during the 3rd quarter valued at about $25,000. KCS Wealth Advisory purchased a new position in Ameriprise Financial during the 3rd quarter valued at about $26,000. Tortoise Investment Management LLC grew its stake in Ameriprise Financial by 416.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 186 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. Griffin Asset Management Inc. purchased a new position in Ameriprise Financial during the 2nd quarter valued at about $28,000. Finally, Advantage Investment Management LLC purchased a new position in Ameriprise Financial during the 2nd quarter valued at about $29,000. 81.97% of the stock is currently owned by institutional investors.
In related news, VP Karen Wilson Thissen sold 303 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $158.67, for a total value of $48,077.01. Following the completion of the sale, the vice president now directly owns 14,599 shares in the company, valued at approximately $2,316,423.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Robert Woerner sold 6,477 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $154.13, for a total value of $998,300.01. Following the completion of the sale, the insider now owns 27,196 shares of the company’s stock, valued at $4,191,719.48. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Shares of NYSE AMP opened at $160.17 on Friday. The stock has a market cap of $20.85 billion, a price-to-earnings ratio of 10.05 and a beta of 1.85. The business has a 50 day simple moving average of $146.55 and a 200 day simple moving average of $143.50. Ameriprise Financial, Inc. has a 52 week low of $95.69 and a 52 week high of $160.63. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 0.83.
Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $4.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.09 by $0.15. The business had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3 billion. Ameriprise Financial had a return on equity of 37.50% and a net margin of 15.31%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.74 EPS. On average, analysts predict that Ameriprise Financial, Inc. will post 16.25 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.88 annualized dividend and a dividend yield of 2.42%. Ameriprise Financial’s payout ratio is 25.97%.
Several research firms have weighed in on AMP. Zacks Investment Research cut Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 target price on the stock. in a research note on Wednesday, October 16th. ValuEngine cut Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, October 25th. Morgan Stanley lowered their target price on Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 20th. Barclays lifted their target price on Ameriprise Financial from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada set a $145.00 target price on Ameriprise Financial and gave the company a “hold” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Ameriprise Financial presently has a consensus rating of “Buy” and a consensus price target of $175.38.
Ameriprise Financial 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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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