Pensionfund Sabic Lowers Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Pensionfund Sabic reduced its holdings in Ameriprise Financial by 18.9%, now owning 3,000 shares worth approximately $1.45 million after selling 700 shares in the first quarter.
• Ameriprise Financial recently reported $9.11 earnings per share for the last quarter, exceeding analysts' expectations of $9.00, alongside a revenue of $4.49 billion.
• The company declared a quarterly dividend of $1.60 per share on August 18th, maintaining an annualized dividend yield of 1.3% with a payout ratio of 19.91%.

Pensionfund Sabic reduced its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 18.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,000 shares of the financial services provider's stock after selling 700 shares during the period. Pensionfund Sabic's holdings in Ameriprise Financial were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. Brighton Jones LLC boosted 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 buying an additional 50 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Ameriprise Financial in the 4th quarter worth $633,000. Gotham Asset Management LLC raised its holdings in Ameriprise Financial by 10.6% in the 4th quarter. Gotham Asset Management LLC now owns 1,884 shares of the financial services provider's stock worth $1,003,000 after purchasing an additional 180 shares during the period. Group One Trading LLC raised its holdings in Ameriprise Financial by 178.0% in the 4th quarter. Group One Trading LLC now owns 278 shares of the financial services provider's stock worth $148,000 after purchasing an additional 178 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Ameriprise Financial by 4.6% in the 4th quarter. Janus Henderson Group PLC now owns 12,054 shares of the financial services provider's stock worth $6,421,000 after purchasing an additional 530 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the business'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 owned 2,562 shares in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, 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 disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Analyst Ratings Changes

AMP has been the topic of a number of recent research reports. Raymond James Financial raised their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a report on Friday, July 25th. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Piper Sandler raised their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $534.71.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded down $10.09 during trading on Monday, reaching $486.99. 632,810 shares of the stock traded hands, compared to its average volume of 395,241. The company has a market capitalization of $45.91 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 1.06 and a beta of 1.27. The business has a fifty day simple moving average of $514.75 and a two-hundred day simple moving average of $502.38. 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 52-week low of $396.14 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued 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 firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $8.72 earnings per share. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is currently 19.91%.

Ameriprise Financial Company Profile

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.