Cetera Investment Advisers Lowers Position in Ameriprise Financial, Inc. $AMP

Cetera Investment Advisers trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 23.7% in the first quarter, Holdings Channel reports. The firm owned 31,823 shares of the financial services provider’s stock after selling 9,868 shares during the period. Cetera Investment Advisers’ holdings in Ameriprise Financial were worth $14,142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its position in Ameriprise Financial by 0.4% in the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after buying an additional 18,879 shares during the last quarter. Norges Bank purchased a new position in Ameriprise Financial during the fourth quarter worth about $742,438,000. Boston Partners increased its position in shares of Ameriprise Financial by 1.1% during the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after acquiring an additional 13,172 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after acquiring an additional 496,319 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Ameriprise Financial by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock valued at $455,387,000 after acquiring an additional 19,731 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Piper Sandler lifted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Jefferies Financial Group boosted their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Morgan Stanley upped their price target on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Finally, Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $555.33.

Insider Activity at Ameriprise Financial

In related news, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This represents a 50.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director owned 6,300 shares in the company, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

NYSE AMP opened at $546.80 on Wednesday. The company has a market cap of $49.16 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.92 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.66. The stock has a 50-day moving average of $479.17 and a two-hundred day moving average of $475.33. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $553.46.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.11 earnings per share. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 45.84 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is presently 16.40%.

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.