Ameriprise Financial, Inc. $AMP Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

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BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,241 shares of the financial services provider's stock after selling 9,713 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.09% of Ameriprise Financial worth $40,782,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Ameriprise Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after purchasing an additional 83 shares during the period. Spire Wealth Management lifted its position in shares of Ameriprise Financial by 91.6% in the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock valued at $692,000 after acquiring an additional 683 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Ameriprise Financial by 488.5% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after acquiring an additional 806 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Ameriprise Financial by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider's stock valued at $12,055,000 after acquiring an additional 1,433 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Ameriprise Financial by 7.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider's stock valued at $2,864,000 after acquiring an additional 420 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 2.1%

Ameriprise Financial stock traded up $10.6240 during 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 market capitalization of $48.63 billion, a P/E ratio of 16.05, a PEG ratio of 1.07 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The stock's 50 day simple moving average is $521.12 and its two-hundred day simple moving average is $506.26.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS 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 for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the business posted $8.72 earnings per share. The firm's revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts expect 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. Investors 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 yield of 1.2%. Ameriprise Financial's dividend payout ratio (DPR) is presently 19.91%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMP shares. Piper Sandler raised their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Raymond James Financial raised their target price on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and raised their target price for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada raised their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $534.71.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was 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 owned 11,047 shares of the company's stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.