Lmcg Investments LLC Sells 3,500 Shares of Ameriprise Financial, Inc. (NYSE:AMP) (2024)

Lmcg Investments LLC lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 30.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,052 shares of the financial services provider's stock after selling 3,500 shares during the quarter. Lmcg Investments LLC's holdings in Ameriprise Financial were worth $3,058,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AMP. OFI Invest Asset Management acquired a new position in shares of Ameriprise Financial in the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $34,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $34,000. Fortitude Family Office LLC acquired a new position in Ameriprise Financial in the fourth quarter worth approximately $39,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in Ameriprise Financial during the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insiders Place Their Bets

In related news, CEO James M. Cracchiolo sold 11,288 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $399.64, for a total transaction of $4,511,136.32. Following the sale, the chief executive officer now directly owns 185,310 shares in the company, valued at approximately $74,057,288.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Gumer Alvero sold 1,652 shares of the firm's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now owns 6,994 shares of the company's stock, valued at approximately $3,056,378. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James M. Cracchiolo sold 11,288 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $399.64, for a total value of $4,511,136.32. Following the sale, the chief executive officer now directly owns 185,310 shares in the company, valued at approximately $74,057,288.40. The disclosure for this sale can be found here. Insiders sold a total of 47,287 shares of company stock worth $19,160,409 over the last quarter. Company insiders own 0.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. UBS Group increased their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a "buy" rating in a research note on Thursday, January 25th. Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a "market perform" rating on the stock. Royal Bank of Canada boosted their price target on Ameriprise Financial from $470.00 to $480.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 24th. Evercore ISI raised their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an "in-line" rating in a research note on Thursday, April 11th. Finally, Argus upped their target price on Ameriprise Financial from $440.00 to $460.00 and gave the stock a "buy" rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $450.88.

Get Our Latest Analysis on AMP

Ameriprise Financial Stock Performance

Shares of AMP stock traded up $3.64 during trading hours on Tuesday, reaching $435.58. 238,669 shares of the company's stock were exchanged, compared to its average volume of 485,678. Ameriprise Financial, Inc. has a fifty-two week low of $291.87 and a fifty-two week high of $440.67. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $43.26 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.74 and a beta of 1.35. The business has a fifty day moving average price of $422.46 and a 200-day moving average price of $389.47.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating the consensus estimate of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $7.25 EPS. Analysts predict that Ameriprise Financial, Inc. will post 34.74 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th 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 1.36%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial's dividend payout ratio (DPR) is presently 20.15%.

Ameriprise Financial Company Profile

(Free Report)

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.

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