Miles Capital Inc. trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,782 shares of the financial services provider’s stock after selling 103 shares during the period. Miles Capital Inc.’s holdings in Ameriprise Financial were worth $630,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lenox Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the third quarter worth approximately $25,000. KCS Wealth Advisory acquired a new position in Ameriprise Financial in the third quarter worth approximately $26,000. Griffin Asset Management Inc. bought a new position in Ameriprise Financial during the second quarter valued at approximately $28,000. Evoke Wealth LLC bought a new position in Ameriprise Financial during the third quarter valued at approximately $29,000. Finally, Smith Asset Management Group LP bought a new position in Ameriprise Financial during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 81.32% of the company’s stock.
In related news, insider John Robert Woerner sold 6,477 shares of the firm’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 transaction of $998,300.01. Following the completion of the transaction, the insider now owns 27,196 shares in the company, valued at approximately $4,191,719.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Karen Wilson Thissen sold 303 shares of the firm’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 transaction, the vice president now owns 14,599 shares of the company’s stock, valued at approximately $2,316,423.33. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock worth $2,403,127 in the last three months. Insiders own 1.90% of the company’s stock.
Shares of NYSE:AMP traded down $1.64 during trading on Tuesday, hitting $170.79. 2,937 shares of the stock were exchanged, compared to its average volume of 571,666. The company has a market capitalization of $22.57 billion, a price-to-earnings ratio of 12.04 and a beta of 1.86. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.83 and a current ratio of 0.83. Ameriprise Financial, Inc. has a 1-year low of $117.09 and a 1-year high of $173.75. The company’s fifty day simple moving average is $167.34 and its 200-day simple moving average is $149.93.
Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $4.24 EPS for the quarter, topping 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 firm had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the business earned $3.74 earnings per share. Ameriprise Financial’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts forecast that Ameriprise Financial, Inc. will post 16.25 earnings per share for the current fiscal year.
Several analysts have commented on AMP shares. ValuEngine downgraded shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 24th. Morgan Stanley lowered shares of Ameriprise Financial from an “overweight” rating to an “equal weight” rating and set a $175.00 price target on the stock. in a research note on Tuesday, January 7th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 price target on the stock. in a report on Wednesday, October 16th. Finally, Royal Bank of Canada raised shares of Ameriprise Financial from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $149.00 to $190.00 in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $179.25.
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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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