Pacer Advisors Inc. Sells 8,387 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Pacer Advisors Inc. trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 44.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,680 shares of the financial services provider’s stock after selling 8,387 shares during the period. Pacer Advisors Inc.’s holdings in Ameriprise Financial were worth $5,686,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Creative Planning boosted its position in Ameriprise Financial by 2.2% during the 2nd quarter. Creative Planning now owns 22,223 shares of the financial services provider’s stock valued at $9,493,000 after acquiring an additional 487 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Ameriprise Financial by 9.4% in the 2nd quarter. NewEdge Advisors LLC now owns 9,166 shares of the financial services provider’s stock valued at $3,916,000 after purchasing an additional 789 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Ameriprise Financial by 0.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,674 shares of the financial services provider’s stock valued at $3,706,000 after purchasing an additional 79 shares in the last quarter. EP Wealth Advisors LLC grew its stake in Ameriprise Financial by 12.1% in the second quarter. EP Wealth Advisors LLC now owns 1,815 shares of the financial services provider’s stock worth $775,000 after purchasing an additional 196 shares during the period. Finally, 3Chopt Investment Partners LLC bought a new position in Ameriprise Financial in the second quarter worth $360,000. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on AMP shares. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods cut their price objective on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday. Finally, Morgan Stanley upped their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $503.22.

Ameriprise Financial Stock Performance

AMP stock opened at $575.28 on Thursday. The stock has a market capitalization of $55.81 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. The stock’s 50 day simple moving average is $548.34 and its 200 day simple moving average is $495.95. Ameriprise Financial, Inc. has a 12-month low of $378.05 and a 12-month high of $577.89. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 68.52% and a net margin of 15.99%. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 33.96 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.03%. Ameriprise Financial’s payout ratio is presently 22.73%.

About Ameriprise Financial

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.