Sei Investments Co. has reduced its stake in Ameriprise Financial, Inc. by 1.9% during the first quarter, according to the company’s most recent filing with the Securities and Exchange Commission (SEC). The firm now owns 198,040 shares of Ameriprise Financial’s stock, down from 201,959 shares previously. Sei Investments Co.’s stake is worth $60,701,000.

The filing also reveals that a number of other large investors have recently bought and sold shares of Ameriprise Financial. For example, Geode Capital Management LLC increased its position in the company by 0.6% in the fourth quarter, while Morgan Stanley grew its position by 9.0% during the same period. Bank of New York Mellon Corp and Moneta Group Investment Advisors LLC also saw increases in their positions.

Analyst ratings on Ameriprise Financial have varied, with Royal Bank of Canada giving the stock an “outperform” rating and Morgan Stanley assigning an “equal weight” rating. Four analysts have rated the stock as a hold, while one has given it a sell rating and four have recommended buying it. The average price target for the stock is $358.22.

Ameriprise Financial’s stock is currently trading at $342.46, up 1.4% during mid-day trading. The stock has a 50-day simple moving average of $339.75 and a two-hundred day simple moving average of $321.24. The company has a market capitalization of $35.15 billion and a price-to-earnings ratio of 15.86.

In its most recent quarterly earnings report, Ameriprise Financial beat analysts’ expectations with earnings per share of $7.44, compared to the consensus estimate of $7.29. The company had revenue of $3.88 billion for the quarter, up 11.2% from the same period last year. Ameriprise Financial has also increased its dividend, paying out $1.35 to shareholders of record on August 7th.

CEO James M. Cracchiolo has sold 9,616 shares of the company’s stock, generating over $3 million in sales. The CFO, Walter Stanley Berman, has also sold 13,042 shares.

Sources:
– SEC filing
– MarketBeat data

Definitions:
– Stake: refers to the number of shares of a particular stock a shareholder owns
– Shareholders: individuals or entities that own shares of a company’s stock
– Market capitalization: the total value of a company’s outstanding shares of stock
– Earnings per share (EPS): the portion of a company’s profit allocated to each outstanding share of common stock
– Dividend: a distribution of a portion of a company’s earnings to its shareholders
– Price-to-earnings ratio (P/E ratio): a valuation ratio calculated by dividing a company’s share price by its earnings per share

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