Aware Super Pty Ltd as trustee of Aware Super Sells 21,114 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Aware Super cut its Ameriprise Financial stake by 28.3% in the third quarter, selling 21,114 shares and retaining 53,391 shares valued at approximately $26.3 million. Institutional investors collectively own 83.95% of AMP.
• Ameriprise reported quarterly EPS of $11.26, below the $11.77 consensus estimate, while revenue rose 6.8% year over year to $5.08 billion. The board also authorized a $5.5 billion share-buyback program, covering up to 12.3% of outstanding shares.
• The company declared a quarterly dividend of $1.70 per share, equivalent to a 1.3% yield. Analysts maintain a consensus “Hold” rating with a $557 price target, although several brokerages recently lowered their targets or ratings.

Aware Super Pty Ltd as trustee of Aware Super reduced its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 28.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,391 shares of the financial services provider's stock after selling 21,114 shares during the quarter. Aware Super Pty Ltd as trustee of Aware Super owned approximately 0.06% of Ameriprise Financial worth $26,287,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of Ameriprise Financial in the 3rd quarter valued at approximately $196,770,000. Neville Rodie & Shaw Inc. raised its holdings in shares of Ameriprise Financial by 4,524.8% in the 3rd quarter. Neville Rodie & Shaw Inc. now owns 32,651 shares of the financial services provider's stock worth $16,076,000 after buying an additional 31,945 shares in the last quarter. Canandaigua National Bank & Trust Co. bought a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $4,162,000. Ballew Advisors Inc bought a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $4,112,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the 2nd quarter worth approximately $1,704,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Transactions at Ameriprise Financial

In related news, SVP Dawn Brockman sold 472 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the transaction, the senior vice president owned 713 shares in the company, valued at $398,517.09. This represents a 39.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deirdre Mcgraw sold 2,400 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the transaction, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company's stock.

Ameriprise Financial Stock Up 2.7%

NYSE AMP opened at $504.10 on Tuesday. The stock's 50 day simple moving average is $518.52 and its 200 day simple moving average is $493.02. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The firm has a market cap of $45.32 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.05 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The financial services provider reported $11.26 EPS for the quarter, missing analysts' consensus estimates of $11.77 by ($0.51). The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.10 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%. Ameriprise Financial's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.92 EPS. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 46.08 earnings per share for the current fiscal year.

Ameriprise Financial announced that its board has approved a stock buyback plan on Tuesday, September 29th that authorizes the company to buy back $5.50 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Share buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 9th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, November 9th. Ameriprise Financial's payout ratio is currently 15.30%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMP. The Goldman Sachs Group lowered their price target on Ameriprise Financial from $562.00 to $524.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Bank of America cut Ameriprise Financial from a "buy" rating to an "underperform" rating and cut their price objective for the company from $570.00 to $445.00 in a report on Monday, October 19th. BMO Capital Markets reduced their target price on shares of Ameriprise Financial from $560.00 to $520.00 and set a "market perform" rating on the stock in a research note on Tuesday, October 6th. Weiss Ratings raised shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, September 3rd. Finally, Morgan Stanley dropped their target price on shares of Ameriprise Financial from $489.00 to $483.00 and set an "underweight" rating for the company in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of "Hold" and a consensus price target of $557.00.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc NYSE: AMP is a diversified financial services company that provides advice, wealth management, asset management, insurance and retirement solutions. Through its network of financial advisors and digital platforms, the company serves individuals, families, businesses and institutions with financial planning, investment management and related services.

Its products and services include brokerage and advisory accounts, mutual funds and exchange-traded funds, retirement plans, annuities, life and long-term care insurance, banking services and financial planning.

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