Johnson Financial Group Inc. Lowers Position in Ameriprise Financial, Inc. (NYSE:AMP)

Johnson Financial Group Inc. cut its holdings in Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 946 shares of the financial services provider’s stock after selling 37 shares during the quarter. Johnson Financial Group Inc.’s holdings in Ameriprise Financial were worth $359,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AMP. Norges Bank bought a new position in Ameriprise Financial in the fourth quarter worth about $514,539,000. Barclays PLC raised its holdings in Ameriprise Financial by 63.9% in the third quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after purchasing an additional 136,621 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in Ameriprise Financial by 134.4% in the third quarter. Qube Research & Technologies Ltd now owns 208,570 shares of the financial services provider’s stock worth $68,761,000 after purchasing an additional 119,578 shares in the last quarter. Payden & Rygel Investment Group bought a new position in Ameriprise Financial in the third quarter worth about $28,382,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Ameriprise Financial by 398.5% during the third quarter. Canada Pension Plan Investment Board now owns 100,100 shares of the financial services provider’s stock valued at $33,001,000 after acquiring an additional 80,020 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the sale, the chief executive officer now owns 13,134 shares in the company, valued at approximately $5,411,864.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Gerard P. Smyth sold 4,440 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $407.92, for a total transaction of $1,811,164.80. Following the transaction, the executive vice president now owns 3,787 shares in the company, valued at approximately $1,544,793.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 8,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total value of $3,296,400.00. Following the transaction, the chief executive officer now owns 13,134 shares in the company, valued at approximately $5,411,864.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,816 shares of company stock worth $8,626,989. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Evercore ISI upped their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Argus upped their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, The Goldman Sachs Group upped their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $450.88.

Check Out Our Latest Research Report on Ameriprise Financial

Ameriprise Financial Stock Performance

NYSE:AMP traded up $6.82 during midday trading on Friday, hitting $440.97. The company’s stock had a trading volume of 295,598 shares, compared to its average volume of 401,754. Ameriprise Financial, Inc. has a fifty-two week low of $292.65 and a fifty-two week high of $442.09. The firm’s 50 day moving average is $426.41 and its 200-day moving average is $396.07. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $43.80 billion, a P/E ratio of 15.01, a P/E/G ratio of 0.75 and a beta of 1.35.

Ameriprise Financial (NYSE:AMPGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the company earned $7.25 EPS. Ameriprise Financial’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts anticipate that Ameriprise Financial, Inc. will post 34.93 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Ameriprise Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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