Principal Financial Group Inc. Reduces Stake in Ameriprise Financial, Inc. $AMP

Principal Financial Group Inc. cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 219,371 shares of the financial services provider’s stock after selling 25,493 shares during the quarter. Principal Financial Group Inc.’s holdings in Ameriprise Financial were worth $107,566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMP. PFG Investments LLC boosted its holdings in Ameriprise Financial by 1.4% in the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock valued at $729,000 after acquiring an additional 21 shares in the last quarter. Institute for Wealth Management LLC. raised its holdings in Ameriprise Financial by 3.6% in the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 21 shares in the last quarter. EPG Wealth Management LLC raised its holdings in Ameriprise Financial by 0.8% in the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 21 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Ameriprise Financial by 5.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 23 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Ameriprise Financial by 0.8% during the 3rd quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock valued at $1,504,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AMP shares. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Morgan Stanley increased their target price on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Jefferies Financial Group raised their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, BMO Capital Markets lifted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $543.22.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This represents a 29.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $475.33 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The company has a quick ratio of 0.68, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $43.34 billion, a P/E ratio of 11.82, a PEG ratio of 1.13 and a beta of 1.20. The stock’s 50 day moving average is $455.30 and its 200 day moving average is $474.06.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the business earned $9.50 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 42.15 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s payout ratio is presently 16.91%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.