Pictet Asset Management Ltd. Has $8.60 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Pictet Asset Management Ltd. lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,144 shares of the financial services provider’s stock after selling 4,600 shares during the quarter. Pictet Asset Management Ltd. owned about 0.05% of Ameriprise Financial worth $8,601,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $613,867,000. Oregon Public Employees Retirement Fund raised its holdings in Ameriprise Financial by 9,885.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,413,630 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 3,379,445 shares in the last quarter. LSV Asset Management raised its holdings in Ameriprise Financial by 1.7% in the fourth quarter. LSV Asset Management now owns 3,152,496 shares of the financial services provider’s stock valued at $329,026,000 after acquiring an additional 53,218 shares in the last quarter. American Century Companies Inc. raised its holdings in Ameriprise Financial by 12.4% in the fourth quarter. American Century Companies Inc. now owns 2,192,388 shares of the financial services provider’s stock valued at $228,820,000 after acquiring an additional 242,695 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Ameriprise Financial by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 1,951,406 shares of the financial services provider’s stock valued at $203,334,000 after acquiring an additional 107,830 shares in the last quarter. 81.11% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Randy Kupper sold 5,160 shares of Ameriprise Financial stock in a transaction on Friday, June 7th. The stock was sold at an average price of $150.38, for a total transaction of $775,960.80. Following the completion of the sale, the executive vice president now directly owns 23,656 shares of the company’s stock, valued at $3,557,389.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

Shares of Ameriprise Financial stock traded up $1.13 during trading on Friday, reaching $145.16. The company’s stock had a trading volume of 1,383,400 shares, compared to its average volume of 942,532. The stock has a 50-day moving average price of $146.39. The company has a market capitalization of $19.57 billion, a price-to-earnings ratio of 9.72 and a beta of 1.87. Ameriprise Financial, Inc. has a fifty-two week low of $95.69 and a fifty-two week high of $153.91. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.81.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.14. Ameriprise Financial had a net margin of 14.85% and a return on equity of 37.97%. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the previous year, the company posted $3.70 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 15.9 EPS for the current year.

AMP has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Barclays raised their price objective on shares of Ameriprise Financial from $135.00 to $146.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. UBS Group raised their price objective on shares of Ameriprise Financial from $156.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. ValuEngine raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Citigroup raised their price objective on shares of Ameriprise Financial from $153.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $171.56.

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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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