Diversified Trust Co Buys 1,393 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Diversified Trust Co increased its stake in Ameriprise Financial by 18.5% during Q2, bringing its holdings to approximately $4.77 million.
• CEO William F. Truscott sold nearly 10,000 shares of Ameriprise stock at over $506 each, representing a significant decrease of 47.34% in his position.
• Ameriprise Financial reported earnings of $9.11 per share for the last quarter, which exceeded analyst expectations and marked a 2.2% increase in revenue year-over-year.

Diversified Trust Co grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 18.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,929 shares of the financial services provider's stock after purchasing an additional 1,393 shares during the period. Diversified Trust Co's holdings in Ameriprise Financial were worth $4,766,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial during the fourth quarter worth about $26,000. TD Capital Management LLC boosted its stake in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock worth $29,000 after buying an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC bought a new stake in Ameriprise Financial during the 1st quarter valued at $29,000. Sunbeam Capital Management LLC purchased a new stake in Ameriprise Financial during the fourth quarter valued at about $31,000. Finally, WPG Advisers LLC purchased a new position in shares of Ameriprise Financial during the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insiders Place Their Bets

In other Ameriprise Financial 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 value of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Down 0.7%

Shares of AMP traded down $3.24 during mid-day trading on Friday, hitting $488.15. 1,500,973 shares of the company's stock were exchanged, compared to its average volume of 449,686. The firm has a fifty day moving average of $510.69 and a two-hundred day moving average of $501.76. The stock has a market cap of $46.02 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 1.04 and a beta of 1.27. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. 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 (NYSE:AMP - Get Free Report) last issued its quarterly 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. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter in the previous year, the company earned $8.72 EPS. Ameriprise Financial's revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial's payout ratio is presently 19.91%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMP. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Morgan Stanley cut shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their target price for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research 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 assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and a consensus price target 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.