Sentry Investment Management LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 71.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,261 shares of the financial services provider’s stock after selling 25,227 shares during the quarter. Sentry Investment Management LLC’s holdings in Ameriprise Financial were worth $1,071,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Johnson Financial Group Inc. lifted its holdings in shares of Ameriprise Financial by 1,375.2% in the fourth quarter. Johnson Financial Group Inc. now owns 5,355 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 4,992 shares in the last quarter. Highstreet Asset Management Inc. lifted its holdings in Ameriprise Financial by 19.8% during the fourth quarter. Highstreet Asset Management Inc. now owns 6,366 shares of the financial services provider’s stock worth $664,000 after acquiring an additional 1,054 shares during the period. GAM Holding AG bought a new stake in Ameriprise Financial during the fourth quarter worth $213,000. Massachusetts Financial Services Co. MA lifted its holdings in Ameriprise Financial by 5.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,362 shares of the financial services provider’s stock worth $664,000 after acquiring an additional 344 shares during the period. Finally, Hallmark Capital Management Inc. bought a new stake in Ameriprise Financial during the fourth quarter worth $226,000. Institutional investors own 81.94% of the company’s stock.
A number of analysts recently commented on the company. Morgan Stanley dropped their price target on Ameriprise Financial from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, January 11th. Zacks Investment Research upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. ValuEngine lowered Ameriprise Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 25th. Barclays upgraded Ameriprise Financial from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $165.00 to $135.00 in a report on Wednesday, January 9th. Finally, Sandler O’Neill upgraded Ameriprise Financial from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Ameriprise Financial has an average rating of “Hold” and an average price target of $152.38.
Shares of AMP opened at $132.18 on Friday. The firm has a market capitalization of $18.80 billion, a price-to-earnings ratio of 8.85 and a beta of 1.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.66 and a current ratio of 0.68. Ameriprise Financial, Inc. has a 1 year low of $95.69 and a 1 year high of $161.58.
Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 30th. The financial services provider reported $3.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.68 by $0.12. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.15 billion. Ameriprise Financial had a return on equity of 38.65% and a net margin of 16.35%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 earnings per share. Research analysts anticipate that Ameriprise Financial, Inc. will post 15.7 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Friday, February 15th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.72%. Ameriprise Financial’s payout ratio is presently 24.10%.
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 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.
Featured Story: Market Capitalization – What it Means for Investors
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP).
Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.