Bessemer Group Inc. lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,658 shares of the financial services provider’s stock after selling 307 shares during the period. Bessemer Group Inc.’s holdings in Ameriprise Financial were worth $2,384,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Fairfield Bush & CO. bought a new position in shares of Ameriprise Financial in the first quarter worth $53,000. Synovus Financial Corp increased its holdings in shares of Ameriprise Financial by 2.9% in the first quarter. Synovus Financial Corp now owns 1,961 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 56 shares during the period. Aviva PLC increased its holdings in shares of Ameriprise Financial by 23.7% in the first quarter. Aviva PLC now owns 45,024 shares of the financial services provider’s stock worth $13,523,000 after purchasing an additional 8,625 shares during the period. Prudential PLC bought a new position in shares of Ameriprise Financial in the first quarter worth $724,000. Finally, Cetera Investment Advisers increased its holdings in shares of Ameriprise Financial by 62.5% in the first quarter. Cetera Investment Advisers now owns 2,900 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 1,115 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on AMP shares. StockNews.com downgraded Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Thursday, June 1st. Royal Bank of Canada lowered their price target on Ameriprise Financial from $400.00 to $385.00 in a research report on Thursday, April 27th. Finally, Morgan Stanley lowered their price target on Ameriprise Financial from $360.00 to $338.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $349.70.
Ameriprise Financial Stock Down 0.1 %
Ameriprise Financial (NYSE:AMP – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $7.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.04. Ameriprise Financial had a return on equity of 77.32% and a net margin of 15.41%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the business earned $5.98 EPS. Ameriprise Financial’s revenue was up 3.2% compared to the same quarter last year. On average, equities analysts expect that Ameriprise Financial, Inc. will post 30.06 EPS for the current year.
Ameriprise Financial Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 19th. Investors of record on Monday, May 8th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, May 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. Ameriprise Financial’s dividend payout ratio is presently 27.43%.
About Ameriprise Financial
Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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