Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in Ameriprise Financial by 5.4% during Q1, now holding approximately 0.86% of the company, valued at around $397 million.
• Ameriprise Financial reported an earnings per share (EPS) of $9.11 for the latest quarter, surpassing analyst expectations and representing a year-over-year revenue increase of 2.2%.
• The company has announced a $4.50 billion share repurchase program, indicating management's belief that the stock is currently undervalued.

Deutsche Bank AG lessened its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 820,269 shares of the financial services provider's stock after selling 46,401 shares during the quarter. Deutsche Bank AG owned about 0.86% of Ameriprise Financial worth $397,100,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AMP. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial in the fourth quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $31,000. Opal Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the 1st quarter valued at about $36,000. Quarry LP lifted its stake in Ameriprise Financial by 148.6% in the 4th quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after purchasing an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC boosted its holdings in shares of Ameriprise Financial by 100.0% during the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after purchasing an additional 49 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $498.13 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 52 week low of $392.69 and a 52 week high of $582.05. The firm's 50 day moving average is $522.26 and its two-hundred day moving average is $510.29. The firm has a market capitalization of $47.43 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.09 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period last year, the firm posted $8.72 EPS. The company's revenue was up 2.2% on a year-over-year basis. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its board has authorized a share repurchase program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is presently 19.91%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and raised their target price for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Raymond James Financial lifted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a report on Friday, July 25th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Finally, William Blair downgraded shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $534.71.

About Ameriprise Financial

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.

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