Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Cambridge Trust Co.

Cambridge Trust Co. lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 28.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,012 shares of the financial services provider’s stock after selling 403 shares during the period. Cambridge Trust Co.’s holdings in Ameriprise Financial were worth $384,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley boosted its holdings in shares of Ameriprise Financial by 9.0% during the fourth quarter. Morgan Stanley now owns 2,375,581 shares of the financial services provider’s stock worth $739,686,000 after purchasing an additional 195,537 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Ameriprise Financial by 29.7% during the second quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock worth $555,952,000 after purchasing an additional 382,811 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in shares of Ameriprise Financial by 106,308.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock worth $494,335,000 after purchasing an additional 1,586,121 shares during the period. Norges Bank acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $389,527,000. Finally, Invesco Ltd. boosted its holdings in shares of Ameriprise Financial by 33.5% during the first quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock worth $324,031,000 after purchasing an additional 270,755 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 1.8 %

Shares of AMP stock opened at $419.99 on Friday. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The firm’s fifty day simple moving average is $416.48 and its 200 day simple moving average is $377.00. The firm has a market capitalization of $42.08 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.67 by $0.08. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. Ameriprise Financial’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.94 earnings per share. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 34.43 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.78%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMP. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. UBS Group lifted their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group lifted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Raymond James started coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $441.00.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the sale, the senior vice president now owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the sale, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 9,689 shares of the business’s stock in a transaction 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 owns 12,126 shares in the company, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. Insiders have sold 89,161 shares of company stock valued at $35,560,647 in the last 90 days. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Company Profile

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.