Unisphere Establishment Sells 9,150 Shares of Ameriprise Financial, Inc. $AMP

Unisphere Establishment lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 45.5% in the first quarter, HoldingsChannel.com reports. The fund owned 10,950 shares of the financial services provider’s stock after selling 9,150 shares during the period. Unisphere Establishment’s holdings in Ameriprise Financial were worth $5,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Ameriprise Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $2,114,000 after purchasing an additional 83 shares during the period. Spire Wealth Management raised its position in shares of Ameriprise Financial by 91.6% in the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider’s stock valued at $692,000 after purchasing an additional 683 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Ameriprise Financial by 488.5% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 806 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Ameriprise Financial by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider’s stock valued at $12,055,000 after purchasing an additional 1,433 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Ameriprise Financial by 7.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider’s stock valued at $2,864,000 after purchasing an additional 420 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.2%

AMP opened at $515.46 on Tuesday. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market cap of $48.59 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.10 and a beta of 1.27. The company has a fifty day moving average price of $521.80 and a two-hundred day moving average price of $504.97.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm posted $8.72 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. Analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 19.91%.

Analysts Set New Price Targets

Several research analysts recently issued reports on AMP shares. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Piper Sandler raised their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. Morgan Stanley lowered Ameriprise Financial from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Royal Bank Of Canada raised their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial upped their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $534.71.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

About Ameriprise Financial

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.