Boston Partners Sells 21,720 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Boston Partners trimmed its Ameriprise Financial stake by 1.8% in the fourth quarter, selling 21,720 shares and ending with 1.17 million shares valued at about $574.4 million.
• Several other institutional investors also made large moves in AMP, and the stock remains heavily owned by institutions and hedge funds at 83.95% of shares outstanding.
• Ameriprise reported strong quarterly earnings, with EPS of $11.26 beating estimates, and it raised its dividend to $1.70 per share, lifting the annualized payout to $6.80.

Boston Partners cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,171,328 shares of the financial services provider's stock after selling 21,720 shares during the period. Boston Partners owned 1.26% of Ameriprise Financial worth $574,365,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $742,438,000. M&T Bank Corp raised its stake in shares of Ameriprise Financial by 1,440.2% during the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider's stock worth $228,572,000 after buying an additional 435,885 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Ameriprise Financial by 140.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider's stock worth $231,805,000 after buying an additional 275,659 shares during the last quarter. Man Group plc raised its stake in Ameriprise Financial by 687.4% in the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider's stock valued at $135,989,000 after purchasing an additional 241,665 shares during the last quarter. Finally, Close Asset Management Ltd lifted its stake in shares of Ameriprise Financial by 78.2% in the third quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider's stock worth $227,652,000 after buying an additional 203,252 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares of the company's stock, valued at $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares of the company's stock, valued at $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company's stock.

Ameriprise Financial Price Performance

AMP opened at $458.54 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The company has a market cap of $41.22 billion, a P/E ratio of 11.40, a P/E/G ratio of 0.95 and a beta of 1.16. The company has a 50 day moving average of $457.02 and a two-hundred day moving average of $472.73.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the firm posted $9.50 EPS. The firm's quarterly revenue was up 9.7% on a year-over-year basis. On average, analysts expect that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial's dividend payout ratio is 16.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AMP shares. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a "hold" rating for the company. BMO Capital Markets increased their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Weiss Ratings lowered Ameriprise Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 27th. Piper Sandler boosted their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. Finally, Morgan Stanley increased their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has an average rating of "Hold" and an average price target of $543.22.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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