Vestcor Inc Has $1.67 Million Stake in Ameriprise Financial, Inc. $AMP

Vestcor Inc reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 30.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,402 shares of the financial services provider’s stock after selling 1,471 shares during the quarter. Vestcor Inc’s holdings in Ameriprise Financial were worth $1,671,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new position in Ameriprise Financial in the 2nd quarter valued at $693,736,000. JPMorgan Chase & Co. grew its holdings in shares of Ameriprise Financial by 7.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after purchasing an additional 446,080 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Ameriprise Financial by 29.3% in the third quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock worth $474,628,000 after purchasing an additional 219,080 shares during the period. Close Asset Management Ltd increased its position in shares of Ameriprise Financial by 78.2% in the third quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock worth $227,652,000 after purchasing an additional 203,252 shares during the period. Finally, Hsbc Holdings PLC raised its stake in Ameriprise Financial by 29.8% in the second quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock valued at $262,075,000 after purchasing an additional 112,784 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Argus cut their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $555.67.

Insider Buying and Selling

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the sale, the chief executive officer directly owned 12,149 shares in the company, valued at $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,658 shares of company stock worth $8,998,675 in the last 90 days. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $450.42 on Thursday. The stock has a market cap of $41.07 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.06 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The company has a 50 day simple moving average of $493.63 and a 200 day simple moving average of $485.98. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The firm 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%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $9.54 earnings per share. Research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were issued a dividend of $1.60 per share. 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 (DPR) is 17.60%.

Ameriprise Financial Company 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.