Banco Bilbao Vizcaya Argentaria S.A. Acquires 5,589 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Ameriprise Financial by 23.4% to a total value of $14.3 million during the first quarter.
• Ameriprise Financial reported earnings per share of $9.11 for the latest quarter, exceeding analysts' estimates of $9.00, alongside a revenue of $4.49 billion.
• The company also declared a quarterly dividend of $1.60 per share, representing a 1.3% yield, and has authorized a $4.5 billion share buyback program.

Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,496 shares of the financial services provider's stock after acquiring an additional 5,589 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Ameriprise Financial were worth $14,295,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Forum Financial Management LP raised its position in Ameriprise Financial by 1.4% in the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock worth $790,000 after acquiring an additional 21 shares during the period. Pinnacle Associates Ltd. raised its position in Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock worth $665,000 after acquiring an additional 21 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its position in Ameriprise Financial by 3.0% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider's stock worth $345,000 after acquiring an additional 21 shares during the period. Argent Trust Co increased its stake in shares of Ameriprise Financial by 1.3% in the first quarter. Argent Trust Co now owns 1,698 shares of the financial services provider's stock worth $822,000 after purchasing an additional 21 shares in the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of Ameriprise Financial by 1.3% in the first quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider's stock worth $852,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $10.6240 during mid-day trading on Friday, reaching $515.8540. 441,906 shares of the company were exchanged, compared to its average volume of 411,409. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $48.63 billion, a PE ratio of 16.05, a PEG ratio of 1.10 and a beta of 1.24. The company's 50 day moving average price is $521.12 and its 200 day moving average price is $506.04.

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 (EPS) for the quarter, topping 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 company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm posted $8.72 EPS. The firm's revenue was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's payout ratio is currently 19.91%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMP. William Blair downgraded shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Raymond James Financial lifted their target price 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. Piper Sandler lifted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Ameriprise Financial presently has an average rating of "Hold" and an average price target of $534.71.

Insider Activity

In other news, 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 sale, the chief executive officer directly owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.