Campbell & CO Investment Adviser LLC Has $2.77 Million Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Campbell & CO Investment Adviser LLC significantly decreased its stake in Ameriprise Financial by 56.1%, now holding 5,723 shares valued at $2.77 million.
• Insider transactions reveal that CEO William F. Truscott sold 9,929 shares for over $5 million, resulting in a 47.34% decrease in his ownership.
• The firm's recent earnings report showed $9.11 per share earnings, exceeding estimates, and revenues reaching $4.49 billion, showcasing a year-over-year growth.

Campbell & CO Investment Adviser LLC decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 56.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,723 shares of the financial services provider's stock after selling 7,319 shares during the quarter. Campbell & CO Investment Adviser LLC's holdings in Ameriprise Financial were worth $2,771,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Oliver Luxxe Assets LLC raised its stake in shares of Ameriprise Financial by 22.8% in the 1st quarter. Oliver Luxxe Assets LLC now owns 1,240 shares of the financial services provider's stock worth $600,000 after buying an additional 230 shares in the last quarter. Jump Financial LLC raised its stake in shares of Ameriprise Financial by 43.7% in the 1st quarter. Jump Financial LLC now owns 789 shares of the financial services provider's stock worth $382,000 after buying an additional 240 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Ameriprise Financial by 2.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,650 shares of the financial services provider's stock worth $1,278,000 after buying an additional 69 shares in the last quarter. Bahl & Gaynor Inc. bought a new stake in shares of Ameriprise Financial in the 1st quarter worth $236,000. Finally, Groupe la Francaise raised its stake in shares of Ameriprise Financial by 14.0% in the 1st quarter. Groupe la Francaise now owns 15,834 shares of the financial services provider's stock worth $7,899,000 after buying an additional 1,941 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction dated 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 directly owned 11,047 shares of the company's stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Down 0.2%

Shares of Ameriprise Financial stock traded down $1.24 during midday trading on Thursday, hitting $517.02. The company's stock had a trading volume of 353,090 shares, compared to its average volume of 501,115. The firm has a market capitalization of $48.74 billion, a P/E ratio of 16.09, a PEG ratio of 1.10 and a beta of 1.24. The stock has a 50-day simple moving average of $521.76 and a 200-day simple moving average of $505.68. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05.

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

Ameriprise Financial Announces Dividend

The company 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 of this dividend 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%.

Analysts Set New Price Targets

A number of analysts have recently commented on AMP shares. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Raymond James Financial boosted their price objective on 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 Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Morgan Stanley cut Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their target price for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Finally, William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $534.71.

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.