Polaris Greystone Financial Group LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 154.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,058 shares of the financial services provider’s stock after buying an additional 4,892 shares during the quarter. Polaris Greystone Financial Group LLC’s holdings in Ameriprise Financial were worth $1,069,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of AMP. Laurel Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the 4th quarter worth about $30,000. Enlightenment Research LLC acquired a new position in Ameriprise Financial during the 4th quarter valued at about $31,000. Executive Wealth Management LLC acquired a new position in Ameriprise Financial during the 4th quarter valued at about $38,000. Legacy Advisors LLC acquired a new position in Ameriprise Financial during the 1st quarter valued at about $47,000. Finally, SRS Capital Advisors Inc. boosted its stake in Ameriprise Financial by 183.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 374 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 242 shares during the last quarter. 84.98% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on AMP. ValuEngine raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Monday. UBS Group upped their price objective on shares of Ameriprise Financial from $156.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Barclays increased their price target on shares of Ameriprise Financial from $135.00 to $146.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Finally, Royal Bank of Canada set a $134.00 price target on shares of Ameriprise Financial and gave the company a “hold” rating in a report on Saturday, February 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $152.38.
In related news, EVP Colin Moore sold 24,032 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $133.64, for a total transaction of $3,211,636.48. Following the completion of the transaction, the executive vice president now owns 56,447 shares in the company, valued at approximately $7,543,577.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.
AMP traded down $0.33 during trading on Wednesday, hitting $143.74. The company’s stock had a trading volume of 11,808 shares, compared to its average volume of 832,638. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.82. Ameriprise Financial, Inc. has a one year low of $95.69 and a one year high of $153.15. The company has a market capitalization of $19.59 billion, a PE ratio of 9.61 and a beta of 1.91.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 30th. The financial services provider reported $3.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.68 by $0.12. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.15 billion. Ameriprise Financial had a net margin of 16.35% and a return on equity of 38.65%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned $1.18 earnings per share. Equities analysts forecast that Ameriprise Financial, Inc. will post 15.45 earnings per share for the current fiscal year.
About Ameriprise Financial
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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