Amundi Sells 11,838 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Amundi reduced its Ameriprise Financial stake by 2.6%, selling 11,838 shares and retaining 452,226 shares valued at approximately $201 million. Institutional investors collectively own 83.95% of AMP.
• Ameriprise reported quarterly earnings of $11.07 per share, exceeding estimates, while revenue rose 11.6% year over year to $4.90 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $555.33.
• The company declared a quarterly dividend of $1.70 per share, or $6.80 annually, while insiders sold 34,571 shares worth about $18.2 million over the past three months.

Amundi lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 452,226 shares of the financial services provider's stock after selling 11,838 shares during the period. Amundi owned approximately 0.50% of Ameriprise Financial worth $200,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SouthState Bank Corp grew its stake in shares of Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 22 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of Ameriprise Financial during the 1st quarter worth approximately $28,000. Ares Financial Consulting LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at $32,000. Prosperity Bancshares Inc acquired a new stake in Ameriprise Financial in the 4th quarter valued at $33,000. Finally, Evolution Wealth Management Inc. bought a new stake in Ameriprise Financial in the first quarter valued at $34,000. Institutional investors own 83.95% of the company's stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider William Jerryl Williams sold 8,210 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the transaction, the insider owned 6,780 shares of the company's stock, valued at $3,656,793. This represents a 54.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction on Thursday, May 14th. The stock was 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. The trade was a 50.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 34,571 shares of company stock valued at $18,227,419 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AMP shares. Morgan Stanley increased their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research note on Friday, July 10th. BMO Capital Markets boosted their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Finally, Weiss Ratings raised shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $555.33.

Ameriprise Financial Price Performance

AMP opened at $544.62 on Friday. The company has a fifty day moving average price of $482.74 and a two-hundred day moving average price of $475.85. The firm has a market capitalization of $48.96 billion, a PE ratio of 13.14, a P/E/G ratio of 0.73 and a beta of 1.16. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $553.46. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.66 and a current ratio of 0.71.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts' consensus estimates of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. Ameriprise Financial's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company posted $9.11 EPS. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 45.84 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial's dividend payout ratio is currently 16.40%.

Ameriprise Financial News Roundup

Here are the key news stories impacting Ameriprise Financial this week:

• Positive Sentiment: Ameriprise reported quarterly earnings of $11.07 per share, exceeding the $10.81 consensus estimate, while revenue rose 11.6% year over year to $4.90 billion. The earnings growth and steady dividend support the investment case. Earnings growth and dividend article
• Positive Sentiment: Zacks Research upgraded AMP from “Hold” to “Strong Buy,” adding to a generally favorable analyst outlook. Jefferies also maintains a Buy rating with a $645 price target, while the analyst consensus is “Moderate Buy” with a target of about $555. Zacks upgrade report
• Positive Sentiment: The company declared a quarterly dividend of $1.70 per share, equivalent to $6.80 annually and a yield of approximately 1.3%. The modest payout ratio leaves room for continued capital returns if earnings remain strong. Ameriprise dividend and market data
• Neutral Sentiment: Ameriprise was recognized by J.D. Power for outstanding customer service for the fifth consecutive year. The award reinforces brand quality and client-retention potential but is unlikely to materially affect near-term results. J.D. Power recognition article
• Negative Sentiment: CFO Walter Stanley Berman sold 11,012 shares for approximately $6.05 million, reducing his position by 66.25%. Insider William Jerryl Williams also sold 16,104 shares across two transactions for roughly $8.67 million, cutting his holdings substantially. The sales may weigh on sentiment, although insider transactions do not necessarily signal a change in the company’s fundamentals. SEC insider transaction filing

About Ameriprise Financial

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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