Ameriprise Financial, Inc. $AMP Position Lessened by Amundi

Key Points

• Amundi's Share Reduction: Amundi reduced its stake in Ameriprise Financial by 23.5%, now holding 491,166 shares worth $223.88 million after selling 151,060 shares.
• Analyst Ratings: Ameriprise Financial received mixed ratings, with one analyst giving a "Strong Buy" and another downgrading it to "Market Perform," leading to an average target price of $534.71.
• Recent Financial Performance: The company reported $9.11 EPS for the last quarter, beating estimates, and had revenue of $4.49 billion, a 2.2% year-over-year increase.

Amundi lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 23.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 491,166 shares of the financial services provider's stock after selling 151,060 shares during the quarter. Amundi owned approximately 0.52% of Ameriprise Financial worth $223,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth approximately $31,000. TD Capital Management LLC grew its stake in Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock worth $29,000 after acquiring an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at $29,000. Finally, WPG Advisers LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter worth $33,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the business's stock in a transaction on Thursday, September 4th. The shares were 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 of the company's stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares of the company's stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Ameriprise Financial Stock Down 0.3%

NYSE:AMP traded down $1.36 during mid-day trading on Wednesday, hitting $491.98. The company had a trading volume of 67,820 shares, compared to its average volume of 497,745. The business has a fifty day simple moving average of $518.50 and a 200-day simple moving average of $503.51. The firm has a market capitalization of $46.38 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.05 and a beta of 1.27. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results 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. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the business earned $8.72 EPS. The business's revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler raised their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their price target for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Finally, Raymond James Financial increased their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.