Ameriprise Financial, Inc. (NYSE:AMP) Position Cut by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.2% during the 4th quarter, Holdings Channel reports. The fund owned 25,750 shares of the financial services provider’s stock after selling 2,607 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ameriprise Financial were worth $9,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in shares of Ameriprise Financial during the third quarter valued at about $25,000. Financial Freedom LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth about $27,000. Carmel Capital Partners LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter worth approximately $30,000. FinTrust Capital Advisors LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Ameriprise Financial by 106.6% in the first quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research analyst reports. Royal Bank of Canada upped their target price on Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. The Goldman Sachs Group lifted their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Raymond James initiated coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating for the company. Evercore ISI lifted their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday. Finally, Morgan Stanley increased their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $441.00.

Ameriprise Financial Price Performance

AMP stock opened at $413.70 on Friday. Ameriprise Financial, Inc. has a one year low of $279.85 and a one year high of $440.67. The firm has a 50-day moving average of $414.84 and a two-hundred day moving average of $374.70. The firm has a market capitalization of $41.45 billion, a PE ratio of 17.45, a P/E/G ratio of 0.70 and a beta of 1.36. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, beating the consensus estimate of $7.67 by $0.08. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the firm earned $6.94 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts forecast that Ameriprise Financial, Inc. will post 34.54 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.31%. Ameriprise Financial’s dividend payout ratio is 22.78%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the sale, the chief executive officer now directly owns 12,126 shares in the company, valued at $4,731,807.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares in the company, valued at approximately $3,056,378. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,161 shares of company stock valued at $35,560,647. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.