Ameriprise Financial, Inc. $AMP Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE has reduced its stake in Ameriprise Financial by 4.0%, holding 245,866 shares valued at approximately $119 million.
• The price targets for Ameriprise Financial have been adjusted by several brokerages, with Keefe, Bruyette & Woods raising theirs to $550.00 and Royal Bank of Canada to $601.00.
• Ameriprise Financial announced a quarterly dividend of $1.60 per share, resulting in an annualized yield of 1.3%.

Axiom Investors LLC DE cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 245,866 shares of the financial services provider's stock after selling 10,254 shares during the quarter. Ameriprise Financial accounts for 1.1% of Axiom Investors LLC DE's investment portfolio, making the stock its 27th largest position. Axiom Investors LLC DE owned approximately 0.26% of Ameriprise Financial worth $119,026,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMP. University of Texas Texas AM Investment Management Co. acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $31,000. Opal Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the first quarter valued at approximately $36,000. TCTC Holdings LLC raised its holdings in Ameriprise Financial by 100.0% in the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 49 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Ameriprise Financial in the first quarter valued at approximately $48,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

NYSE AMP traded down $3.82 during trading hours on Friday, hitting $497.15. The company had a trading volume of 302,141 shares, compared to its average volume of 401,374. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The company has a market cap of $46.87 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.07 and a beta of 1.27. The business has a 50 day moving average of $515.73 and a 200-day moving average of $503.05.

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

Ameriprise Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Royal Bank Of Canada raised their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and raised their price objective for the company from $462.00 to $530.00 in a report on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $534.71.

Insider Buying and Selling

In other news, EVP Heather J. Melloh sold 1,500 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

Ameriprise Financial 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.