Ameriprise Financial, Inc. $AMP Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A reduced its stake in Ameriprise Financial by 7.6%, selling 6,278 shares, and now holds 76,730 shares valued at approximately $37.15 million.
• Ameriprise Financial's recent earnings report showed earnings per share of $9.11 and revenue of $4.49 billion, surpassing analyst expectations, with a year-over-year revenue increase of 2.2%.
• The company has authorized a $4.50 billion share buyback program, indicating confidence in its stock value, and recently declared a quarterly dividend of $1.60.

Credit Agricole S A decreased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 7.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,730 shares of the financial services provider's stock after selling 6,278 shares during the period. Credit Agricole S A owned 0.08% of Ameriprise Financial worth $37,146,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AMP. GAMMA Investing LLC lifted its holdings in Ameriprise Financial by 1.9% during the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock worth $2,114,000 after buying an additional 83 shares during the period. Spire Wealth Management lifted its holdings in Ameriprise Financial by 91.6% during the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock worth $692,000 after buying an additional 683 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Ameriprise Financial by 488.5% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock worth $470,000 after buying an additional 806 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Ameriprise Financial by 6.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider's stock worth $12,055,000 after buying an additional 1,433 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Ameriprise Financial by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider's stock valued at $2,864,000 after purchasing an additional 420 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Activity 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 sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

AMP traded up $10.6240 during midday trading on Friday, hitting $515.8540. 441,906 shares of the company were exchanged, compared to its average volume of 411,409. The company's 50 day simple moving average is $521.12 and its 200 day simple moving average is $506.04. The firm has a market capitalization of $48.63 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.10 and a beta of 1.24. The company has a current ratio of 0.62, a quick 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 announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $8.72 EPS. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders 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 dividend yield of 1.2%. Ameriprise Financial's dividend payout ratio (DPR) is 19.91%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Raymond James Financial upped 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. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Finally, Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their target price for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus target price of $534.71.

Ameriprise Financial Company 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.