Boston Financial Mangement LLC Reduces Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Boston Financial Mangement LLC lessened its position in Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,745 shares of the financial services provider’s stock after selling 80 shares during the quarter. Boston Financial Mangement LLC’s holdings in Ameriprise Financial were worth $575,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Ameriprise Financial in the 3rd quarter valued at about $25,000. Financial Freedom LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $27,000. Carmel Capital Partners LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $30,000. FinTrust Capital Advisors LLC purchased a new position in Ameriprise Financial during the fourth quarter worth approximately $32,000. Finally, Brown Brothers Harriman & Co. boosted its stake in Ameriprise Financial by 106.6% during the first quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock worth $38,000 after buying an additional 65 shares during the last quarter. 82.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the subject of a number of recent research reports. UBS Group raised their target price on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 30th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Morgan Stanley raised their price target on shares of Ameriprise Financial from $394.00 to $400.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Finally, The Goldman Sachs Group raised shares of Ameriprise Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $355.00 to $452.00 in a research report on Wednesday, January 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $422.83.

View Our Latest Stock Report on AMP

Insider Buying and Selling

In other news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO James M. Cracchiolo sold 9,948 shares of Ameriprise Financial stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $365.86, for a total value of $3,639,575.28. Following the completion of the transaction, the chief executive officer now owns 157,103 shares in the company, valued at $57,477,703.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 9,689 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the sale, the chief executive officer now directly owns 12,126 shares in the company, valued at $4,731,807.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,538 shares of company stock valued at $18,523,263. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP opened at $396.94 on Friday. The firm has a 50-day simple moving average of $378.81 and a two-hundred day simple moving average of $351.16. The stock has a market cap of $40.17 billion, a PE ratio of 16.74, a P/E/G ratio of 0.74 and a beta of 1.36. Ameriprise Financial, Inc. has a 1-year low of $275.09 and a 1-year high of $402.64. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.57.

Ameriprise Financial (NYSE:AMPGet Free Report) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, topping analysts’ consensus estimates of $7.67 by $0.08. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $6.94 EPS. As a group, analysts forecast that Ameriprise Financial, Inc. will post 34.05 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Friday, February 9th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.36%. Ameriprise Financial’s dividend payout ratio is presently 22.78%.

About Ameriprise Financial

(Free Report)

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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

Further Reading

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

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