DAVENPORT & Co LLC Has $10.96 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

DAVENPORT & Co LLC decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 22,361 shares of the financial services provider’s stock after selling 1,947 shares during the period. DAVENPORT & Co LLC’s holdings in Ameriprise Financial were worth $10,964,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Pensionfund Sabic acquired a new stake in Ameriprise Financial during the fourth quarter worth approximately $1,471,000. Gilman Hill Asset Management LLC grew its position in shares of Ameriprise Financial by 23.8% in the fourth quarter. Gilman Hill Asset Management LLC now owns 687 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 132 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in shares of Ameriprise Financial by 4.3% during the fourth quarter. Daymark Wealth Partners LLC now owns 2,238 shares of the financial services provider’s stock worth $1,097,000 after purchasing an additional 92 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Ameriprise Financial by 60.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 211,503 shares of the financial services provider’s stock worth $103,708,000 after purchasing an additional 79,600 shares during the last quarter. Finally, Diversified Trust Co. lifted its holdings in Ameriprise Financial by 42.6% during the 4th quarter. Diversified Trust Co. now owns 14,125 shares of the financial services provider’s stock worth $6,926,000 after purchasing an additional 4,223 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer directly owned 12,149 shares in the company, valued at $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,658 shares of company stock valued at $8,998,675 in the last ninety days. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $451.76 on Thursday. The business has a fifty day moving average price of $481.20 and a two-hundred day moving average price of $481.00. The stock has a market capitalization of $41.19 billion, a PE ratio of 12.42, a P/E/G ratio of 1.04 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. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.Ameriprise Financial’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $9.54 earnings per share. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.60%.

Wall Street Analyst Weigh In

AMP has been the topic of a number of research reports. Jefferies Financial Group upped their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $555.67.

About Ameriprise Financial

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.