Glenview Trust Co Sells 947 Shares of Ameriprise Financial, Inc. (AMP)
Glenview Trust Co cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 83,208 shares of the financial services provider’s stock after selling 947 shares during the period. Ameriprise Financial accounts for approximately 1.0% of Glenview Trust Co’s portfolio, making the stock its 28th biggest holding. Glenview Trust Co’s holdings in Ameriprise Financial were worth $14,101,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of AMP. Victory Capital Management Inc. increased its stake in shares of Ameriprise Financial by 499.6% in the third quarter. Victory Capital Management Inc. now owns 552,144 shares of the financial services provider’s stock worth $81,999,000 after purchasing an additional 460,058 shares during the period. Canada Pension Plan Investment Board grew its position in Ameriprise Financial by 147.7% during the third quarter. Canada Pension Plan Investment Board now owns 504,364 shares of the financial services provider’s stock worth $74,903,000 after buying an additional 300,748 shares in the last quarter. Renaissance Group LLC grew its position in Ameriprise Financial by 12,127.8% during the third quarter. Renaissance Group LLC now owns 219,978 shares of the financial services provider’s stock worth $32,669,000 after buying an additional 218,179 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Ameriprise Financial by 227.1% during the third quarter. BNP Paribas Arbitrage SA now owns 291,634 shares of the financial services provider’s stock worth $43,311,000 after buying an additional 202,466 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Ameriprise Financial during the third quarter worth about $22,262,000. Institutional investors and hedge funds own 80.68% of the company’s stock.
A number of equities research analysts recently weighed in on AMP shares. ValuEngine downgraded Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $195.00 target price on the stock in a research report on Wednesday, January 10th. Royal Bank of Canada set a $168.00 target price on Ameriprise Financial and gave the stock a “hold” rating in a research report on Saturday, December 16th. SunTrust Banks lifted their target price on Ameriprise Financial from $140.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $187.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ameriprise Financial presently has an average rating of “Buy” and an average target price of $164.98.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $3.08 by ($1.90). The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.05 billion. Ameriprise Financial had a net margin of 12.31% and a return on equity of 31.03%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 earnings per share. analysts anticipate that Ameriprise Financial, Inc. will post 14.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, February 15th. Ameriprise Financial’s payout ratio is 35.17%.
In other Ameriprise Financial news, CEO William F. Truscott sold 31,379 shares of Ameriprise Financial stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $173.64, for a total transaction of $5,448,649.56. Following the sale, the chief executive officer now directly owns 67,058 shares of the company’s stock, valued at $11,643,951.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 7,329 shares of Ameriprise Financial stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $169.47, for a total value of $1,242,045.63. Following the sale, the insider now directly owns 37,991 shares in the company, valued at $6,438,334.77. The disclosure for this sale can be found here. Insiders have sold 49,628 shares of company stock worth $8,570,993 over the last ninety days. Company insiders own 1.50% of the company’s stock.
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About Ameriprise Financial
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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