Cerity Partners LLC Cuts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Cerity Partners LLC lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 22.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,077 shares of the financial services provider’s stock after selling 20,010 shares during the period. Cerity Partners LLC owned approximately 0.07% of Ameriprise Financial worth $36,779,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock worth $2,556,683,000 after purchasing an additional 516,437 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Ameriprise Financial by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider’s stock worth $1,407,607,000 after buying an additional 38,141 shares in the last quarter. Norges Bank purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $689,272,000. Amundi raised its holdings in Ameriprise Financial by 48.0% in the fourth quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after acquiring an additional 208,195 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Ameriprise Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock worth $320,692,000 after acquiring an additional 5,048 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of recent analyst reports. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective on the stock in a research report on Monday. UBS Group lowered 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. Morgan Stanley lifted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $515.20.

Insider Activity

In other news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 1.2 %

NYSE:AMP opened at $427.37 on Tuesday. The company has a market capitalization of $41.08 billion, a PE ratio of 12.93, a P/E/G ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The stock’s 50 day moving average price is $512.78 and its 200 day moving average price is $524.26. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

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.