Banque Pictet & Cie SA Sells 187 Shares of Ameriprise Financial, Inc. $AMP

Banque Pictet & Cie SA reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 21,655 shares of the financial services provider’s stock after selling 187 shares during the quarter. Banque Pictet & Cie SA’s holdings in Ameriprise Financial were worth $11,558,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AMP. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after purchasing an additional 1,023,002 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Ameriprise Financial by 55.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock valued at $1,086,724,000 after acquiring an additional 796,925 shares during the last quarter. GAMMA Investing LLC boosted its stake in Ameriprise Financial by 49,248.9% in the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider’s stock valued at $1,023,461,000 after acquiring an additional 2,109,824 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Ameriprise Financial by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock valued at $578,852,000 after purchasing an additional 266,631 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $469,334,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMP has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Royal Bank Of Canada upped their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Raymond James Financial increased 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. Finally, Piper Sandler increased their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $544.50.

Ameriprise Financial Stock Up 0.1%

Shares of Ameriprise Financial stock opened at $492.16 on Friday. The firm has a market cap of $46.40 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.05 and a beta of 1.27. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The company has a 50-day moving average of $507.59 and a 200 day moving average of $501.68.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. Ameriprise Financial’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $8.72 EPS. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 19.91%.

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.