Cetera Investment Advisers Decreases Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Cetera Investment Advisers cut its Ameriprise Financial stake by 23.7% in the first quarter, selling 9,868 shares and retaining 31,823 shares valued at approximately $14.1 million. Institutional investors collectively own 83.95% of the company.
• Analyst sentiment remains positive overall, with Ameriprise carrying a “Moderate Buy” consensus rating and an average price target of $555.33, although several analysts maintain neutral ratings.
• Ameriprise shares opened at $546.80 after the company exceeded quarterly earnings and revenue expectations, reporting $11.07 in EPS and $4.90 billion in revenue. The company also declared a quarterly dividend of $1.70 per share, representing a 1.2% yield.

Cetera Investment Advisers decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 23.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,823 shares of the financial services provider's stock after selling 9,868 shares during the quarter. Cetera Investment Advisers' holdings in Ameriprise Financial were worth $14,142,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AMP. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Ameriprise Financial by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider's stock worth $98,388,000 after purchasing an additional 10,782 shares in the last quarter. KBC Group NV lifted its holdings in Ameriprise Financial by 12.2% in the 4th quarter. KBC Group NV now owns 150,606 shares of the financial services provider's stock valued at $73,848,000 after purchasing an additional 16,433 shares in the last quarter. National Pension Service boosted its stake in Ameriprise Financial by 8.2% during the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider's stock worth $81,172,000 after purchasing an additional 12,563 shares during the last quarter. LSV Asset Management boosted its stake in Ameriprise Financial by 1.3% during the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider's stock worth $133,381,000 after purchasing an additional 3,548 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth $72,050,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. BMO Capital Markets increased their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Weiss Ratings upgraded shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a report on Friday, July 10th. Finally, Piper Sandler raised their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial presently has an average rating of "Moderate Buy" and an average price target of $555.33.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by insiders.

Ameriprise Financial Stock Up 1.6%

Shares of NYSE:AMP opened at $546.80 on Wednesday. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $553.46. The stock has a market cap of $49.16 billion, a P/E ratio of 13.19, a PEG ratio of 0.92 and a beta of 1.16. The business has a fifty day moving average of $479.17 and a two-hundred day moving average of $475.33. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.11 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 45.84 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial's dividend payout ratio (DPR) is presently 16.40%.

Ameriprise Financial Profile

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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