Ameriprise Financial, Inc. (NYSE:AMP) Stock Position Reduced by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.6% during the first quarter, HoldingsChannel.com reports. The firm owned 1,084 shares of the financial services provider’s stock after selling 41 shares during the period. Ameritas Investment Partners Inc.’s holdings in Ameriprise Financial were worth $475,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after acquiring an additional 603,267 shares in the last quarter. Norges Bank bought a new stake in Ameriprise Financial in the fourth quarter worth approximately $514,539,000. Dimensional Fund Advisors LP grew its position in Ameriprise Financial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock worth $385,620,000 after acquiring an additional 35,931 shares in the last quarter. TD Asset Management Inc grew its position in Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after acquiring an additional 111,973 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Ameriprise Financial by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after acquiring an additional 32,312 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at approximately $4,818,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of AMP stock traded up $6.52 during mid-day trading on Wednesday, reaching $427.91. The company’s stock had a trading volume of 596,379 shares, compared to its average volume of 484,418. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $449.94. The company has a market cap of $42.50 billion, a P/E ratio of 14.66, a PEG ratio of 0.66 and a beta of 1.37. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50-day moving average is $432.03 and its two-hundred day moving average is $417.06.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the company posted $7.25 EPS. The business’s revenue was up 10.8% on a year-over-year basis. On average, research analysts predict that Ameriprise Financial, Inc. will post 34.91 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on AMP shares. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $460.00 to $470.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group decreased their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. The Goldman Sachs Group upped their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Argus upped their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $462.89.

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.