Ameriprise Financial, Inc. $AMP Shares Sold by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. sold 909 shares of Ameriprise Financial, Inc., reducing its position by 9.1%, leaving it with 9,093 shares worth approximately $4.4 million.
• Ameriprise reported $9.11 EPS for the last quarter, exceeding analyst expectations, with revenues of $4.49 billion, marking a year-over-year increase of 2.2%.
• The company announced a quarterly dividend of $1.60, bringing its annualized dividend to $6.40, which represents a yield of 1.2% and a dividend payout ratio of 19.91%.

Baird Financial Group Inc. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,093 shares of the financial services provider's stock after selling 909 shares during the period. Baird Financial Group Inc.'s holdings in Ameriprise Financial were worth $4,402,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 21.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock worth $2,819,900,000 after acquiring an additional 1,023,002 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Ameriprise Financial by 49,248.9% in the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock worth $1,023,461,000 after purchasing an additional 2,109,824 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Ameriprise Financial by 1.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider's stock valued at $770,886,000 after purchasing an additional 23,655 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Ameriprise Financial by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock valued at $578,852,000 after buying an additional 266,631 shares during the period. Finally, Nuveen LLC purchased a new position in Ameriprise Financial during the first quarter valued at approximately $469,334,000. 83.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Royal Bank Of Canada upped their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Morgan Stanley lowered Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their price target for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Finally, Piper Sandler lifted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $534.71.

Ameriprise Financial Stock Down 0.3%

Shares of AMP stock traded down $1.57 during trading hours on Wednesday, reaching $491.77. 415,413 shares of the company's stock were exchanged, compared to its average volume of 411,980. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The stock's 50 day moving average is $517.49 and its 200-day moving average is $503.42. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market cap of $46.36 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 1.05 and a beta of 1.27.

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

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid 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 payout ratio is presently 19.91%.

Insider Activity

In other news, CEO William F. Truscott sold 9,929 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company's stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company's stock.

Ameriprise Financial Company 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.