Ameriprise Financial, Inc. $AMP Shares Sold by UBS Group AG

UBS Group AG lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,053,859 shares of the financial services provider’s stock after selling 224,663 shares during the period. UBS Group AG owned 1.13% of Ameriprise Financial worth $517,708,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Ameriprise Financial during the second quarter worth about $693,736,000. JPMorgan Chase & Co. raised its stake in Ameriprise Financial by 7.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after acquiring an additional 446,080 shares during the last quarter. Federated Hermes Inc. lifted its position in Ameriprise Financial by 29.3% during the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock worth $474,628,000 after acquiring an additional 219,080 shares during the period. Close Asset Management Ltd lifted its position in Ameriprise Financial by 78.2% during the 3rd quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock worth $227,652,000 after acquiring an additional 203,252 shares during the period. Finally, Hsbc Holdings PLC grew its stake in shares of Ameriprise Financial by 29.8% in the 2nd quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock valued at $262,075,000 after purchasing an additional 112,784 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

AMP traded up $4.80 on Friday, hitting $445.09. 86,656 shares of the company were exchanged, compared to its average volume of 666,317. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $550.18. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $40.58 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 1.05 and a beta of 1.27. The business’s fifty day moving average is $492.60 and its 200 day moving average is $485.65.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the previous year, the business earned $9.54 earnings per share. Ameriprise Financial’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group upped their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $555.67.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. This trade represents a 50.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 16,658 shares of company stock worth $8,998,675. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.