Gateway Investment Advisers LLC cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,677 shares of the financial services provider’s stock after selling 714 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Ameriprise Financial were worth $727,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in AMP. Laurel Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $30,000. Enlightenment Research LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $31,000. Executive Wealth Management LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $38,000. Legacy Advisors LLC purchased a new stake in Ameriprise Financial during the 1st quarter valued at about $47,000. Finally, SRS Capital Advisors Inc. boosted its holdings in Ameriprise Financial by 183.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 374 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 242 shares during the period. Hedge funds and other institutional investors own 84.98% of the company’s stock.
In other Ameriprise Financial news, EVP Colin Moore sold 24,032 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $133.64, for a total value of $3,211,636.48. Following the completion of the sale, the executive vice president now owns 56,447 shares in the company, valued at approximately $7,543,577.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.90% of the company’s stock.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.12. Ameriprise Financial had a return on equity of 38.65% and a net margin of 16.35%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business posted $1.18 EPS. The business’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 15.45 EPS for the current fiscal year.
Several brokerages recently weighed in on AMP. ValuEngine upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research cut Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Monday, April 8th. Finally, Barclays increased their target price on Ameriprise Financial from $135.00 to $146.00 and gave the company an “overweight” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $152.38.
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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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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