Ameriprise Financial, Inc. (AMP) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,095 shares of the financial services provider’s stock after selling 259 shares during the period. FineMark National Bank & Trust’s holdings in Ameriprise Financial were worth $845,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC boosted its position in Ameriprise Financial by 65.9% during the second quarter. FMR LLC now owns 2,079,355 shares of the financial services provider’s stock worth $290,861,000 after acquiring an additional 825,832 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Ameriprise Financial by 14.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,095,187 shares of the financial services provider’s stock worth $432,954,000 after buying an additional 382,319 shares during the period. Cornerstone Wealth Management LLC increased its stake in Ameriprise Financial by 17.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 85,558 shares of the financial services provider’s stock worth $568,000 after buying an additional 12,621 shares during the period. IFM Investors Pty Ltd increased its stake in Ameriprise Financial by 15.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 7,791 shares of the financial services provider’s stock worth $1,150,000 after buying an additional 1,048 shares during the period. Finally, Hengehold Capital Management LLC increased its stake in Ameriprise Financial by 2.8% during the 3rd quarter. Hengehold Capital Management LLC now owns 15,402 shares of the financial services provider’s stock worth $2,274,000 after buying an additional 421 shares during the period. 83.32% of the stock is owned by institutional investors and hedge funds.

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Several research firms recently issued reports on AMP. Zacks Investment Research downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. Royal Bank of Canada set a $134.00 price target on shares of Ameriprise Financial and gave the stock a “hold” rating in a research note on Saturday, February 2nd. ValuEngine downgraded shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 25th. Finally, Morgan Stanley dropped their price target on shares of Ameriprise Financial from $177.00 to $170.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Ameriprise Financial has a consensus rating of “Hold” and an average target price of $152.38.

AMP opened at $130.68 on Tuesday. The stock has a market capitalization of $18.21 billion, a PE ratio of 8.75 and a beta of 1.89. Ameriprise Financial, Inc. has a 1-year low of $95.69 and a 1-year high of $163.88. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.53.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 30th. The financial services provider reported $3.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.68 by $0.12. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.15 billion. Ameriprise Financial had a net margin of 16.35% and a return on equity of 38.65%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 EPS. On average, equities analysts expect that Ameriprise Financial, Inc. will post 15.7 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Friday, February 15th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, February 14th. Ameriprise Financial’s payout ratio is currently 24.10%.

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Ameriprise Financial Company Profile

Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.

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