Ameriprise Financial, Inc. $AMP Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP reduced its Ameriprise Financial stake by 23.8% in the second quarter, selling 6,603 shares and retaining 21,085 shares valued at approximately $9.7 million. Institutional investors and hedge funds own 83.95% of AMP.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $555.33; Jefferies raised its target to $645 and kept a “Buy” rating.
• Ameriprise reported quarterly EPS of $11.07, exceeding estimates, while revenue rose 11.6% year over year to $4.90 billion. The company also paid a $1.70 quarterly dividend, equal to a 1.3% annualized yield.

Corient Private Wealth LP lessened its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 23.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,085 shares of the financial services provider's stock after selling 6,603 shares during the quarter. Corient Private Wealth LP's holdings in Ameriprise Financial were worth $9,673,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SouthState Bank Corp increased its position in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after purchasing an additional 22 shares in the last quarter. Twin Lakes Capital Management LLC purchased a new position in Ameriprise Financial in the 2nd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial in the 2nd quarter valued at $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth $28,000. Finally, Fiduciary Financial Advisors acquired a new stake in Ameriprise Financial during the 2nd quarter worth $30,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMP. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research report on Friday, July 10th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, September 3rd. Finally, Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $555.33.

Ameriprise Financial Trading Down 3.4%

Shares of Ameriprise Financial stock opened at $540.42 on Thursday. The stock has a 50 day moving average of $547.69 and a 200 day moving average of $489.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $48.58 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.00 and a beta of 1.14. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts' consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the business earned $9.11 earnings per share. The company's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts predict that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were given a $1.70 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial's dividend payout ratio is presently 16.40%.

Insider Activity at Ameriprise Financial

In other news, EVP Deirdre Mcgraw sold 2,400 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares of the company's stock, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. This represents a 39.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is owned by corporate insiders.

Ameriprise Financial Profile

Ameriprise Financial, Inc NYSE: AMP is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.

The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.

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