Ameriprise Financial, Inc. $AMP Shares Sold by Lyrical Asset Management LP

Key Points

• Lyrical Asset Management LP trimmed its Ameriprise Financial stake by 5.1% in the fourth quarter, but still held 720,461 shares worth about $353.3 million at quarter-end.
• Ameriprise reported strong quarterly earnings, posting $11.26 EPS versus the $10.21 consensus, while revenue rose 9.7% year over year to $4.77 billion.
• The company also raised its quarterly dividend to $1.70 per share from $1.60, and analysts currently have an overall Hold rating with an average price target of $543.22.

Lyrical Asset Management LP lessened its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 720,461 shares of the financial services provider's stock after selling 39,025 shares during the period. Ameriprise Financial makes up 4.9% of Lyrical Asset Management LP's investment portfolio, making the stock its 6th largest holding. Lyrical Asset Management LP owned 0.78% of Ameriprise Financial worth $353,271,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AMP. Brighton Jones LLC lifted its stake in shares of Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after acquiring an additional 50 shares during the period. Empowered Funds LLC lifted its stake in shares of Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock worth $2,915,000 after acquiring an additional 634 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock valued at $312,000 after purchasing an additional 72 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $313,000. Finally, Gabelli Funds LLC increased its holdings in shares of Ameriprise Financial by 224.8% in the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock valued at $2,253,000 after purchasing an additional 2,922 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $455.89 on Monday. The company has a 50-day simple moving average of $455.93 and a 200-day simple moving average of $472.71. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $40.98 billion, a PE ratio of 11.34, a P/E/G ratio of 1.07 and a beta of 1.16. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the firm posted $9.50 EPS. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a dividend of $1.70 per share. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. This represents a $6.80 annualized dividend and a yield of 1.5%. Ameriprise Financial's payout ratio is 16.91%.

Insider Activity

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 6,103 shares of the company's stock, valued at $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a "strong-buy" rating in a report on Wednesday, February 11th. BMO Capital Markets increased their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Weiss Ratings downgraded shares of Ameriprise Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They issued a "hold" rating for the company. Finally, Piper Sandler increased their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and an average target price of $543.22.

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.

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