Ameriprise Financial, Inc. $AMP Shares Sold by Centiva Capital LP

Key Points

• Centiva Capital LP cut its Ameriprise stake by 39.3% in Q3, selling 2,779 shares and now holds 4,292 shares valued at $2.108 million; institutional investors own 83.95% of the stock.
• Ameriprise beat quarterly expectations with $10.83 EPS (vs. $10.33) and $4.92 billion revenue (up 10.2% YoY), while analysts have raised price targets (Jefferies $620, RBC $605) though the consensus rating remains a Hold with a $555.67 average target.
• Insiders sold 16,658 shares (~$9.0 million) over the last quarter — including sales by Gumer Alvero and CEO William Truscott — leaving insiders with just 0.73% ownership.

Centiva Capital LP lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 39.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,292 shares of the financial services provider's stock after selling 2,779 shares during the period. Centiva Capital LP's holdings in Ameriprise Financial were worth $2,108,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after buying an additional 50 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock valued at $2,915,000 after acquiring an additional 634 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock worth $312,000 after acquiring an additional 72 shares during the last quarter. Schnieders Capital Management LLC. purchased a new stake in shares of Ameriprise Financial during the second quarter worth approximately $313,000. Finally, Boston Partners increased its position in shares of Ameriprise Financial by 3.1% during the second quarter. Boston Partners now owns 1,179,876 shares of the financial services provider's stock worth $629,650,000 after purchasing an additional 35,500 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Piper Sandler upgraded Ameriprise Financial from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $434.00 to $530.00 in a report on Friday, January 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Morgan Stanley raised their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an "underweight" rating in a research note on Monday, December 22nd. Finally, BMO Capital Markets restated a "market perform" rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ameriprise Financial currently has an average rating of "Hold" and a consensus target price of $555.67.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $442.03 on Friday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $550.18. The company has a market cap of $40.30 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.03 and a beta of 1.27. 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 business's 50 day moving average price is $491.57 and its 200 day moving average price is $484.96.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share 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 analyst estimates of $4.75 billion. During the same quarter in the previous year, the company posted $9.54 earnings per share. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial's payout ratio is presently 17.60%.

Insider Activity at Ameriprise Financial

In related news, 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 value of $2,528,735.04. Following the completion of the sale, the insider owned 4,621 shares of the company's stock, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William F. Truscott sold 5,000 shares of the firm's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares of the company's stock, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 16,658 shares of company stock valued at $8,998,675. 0.73% of the stock is owned by company insiders.

About Ameriprise Financial

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.

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