Welch & Forbes LLC trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,355 shares of the financial services provider’s stock after selling 1,093 shares during the period. Welch & Forbes LLC owned 0.15% of Ameriprise Financial worth $21,747,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ledyard National Bank raised its position in shares of Ameriprise Financial by 116.2% in the fourth quarter. Ledyard National Bank now owns 707 shares of the financial services provider’s stock valued at $74,000 after buying an additional 380 shares in the last quarter. First Bank & Trust raised its position in shares of Ameriprise Financial by 15.8% in the fourth quarter. First Bank & Trust now owns 918 shares of the financial services provider’s stock valued at $96,000 after buying an additional 125 shares in the last quarter. Capital Guardian Trust Co. acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $107,000. Belpointe Asset Management LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $136,000. Finally, Dupont Capital Management Corp raised its position in shares of Ameriprise Financial by 42.9% in the fourth quarter. Dupont Capital Management Corp now owns 1,459 shares of the financial services provider’s stock valued at $152,000 after buying an additional 438 shares in the last quarter. Institutional investors own 83.32% of the company’s stock.
A number of research firms have recently weighed in on AMP. UBS Group dropped their price target on shares of Ameriprise Financial from $204.00 to $186.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. Morgan Stanley lowered their price objective on shares of Ameriprise Financial from $170.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, January 11th. Zacks Investment Research upgraded shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. ValuEngine downgraded shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 25th. Finally, Barclays upgraded shares of Ameriprise Financial from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $165.00 to $135.00 in a research report on Wednesday, January 9th. Two 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. The stock has a consensus rating of “Hold” and a consensus target price of $152.38.
Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $3.80 EPS for the quarter, beating the consensus estimate of $3.68 by $0.12. The business had revenue of $3.18 billion during 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 revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $1.18 earnings per share. On average, analysts expect that Ameriprise Financial, Inc. will post 15.7 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Friday, February 15th will be paid a dividend of $0.90 per share. The ex-dividend date is Thursday, February 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.87%. Ameriprise Financial’s payout ratio is presently 24.10%.
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Ameriprise Financial Company Profile
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 Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
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