E. Ohman J or Asset Management AB Sells 650 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• E. Ohman J or Asset Management AB sold 650 shares of Ameriprise Financial, decreasing its position by 14.8% to hold 3,730 shares, valued at approximately $1,991,000.
• Several institutional investors, including JPMorgan Chase and UBS Asset Management, significantly increased their holdings in Ameriprise Financial during the first quarter, reflecting strong institutional interest in the company.
• The company reported $9.11 EPS for the last quarter, exceeding analyst expectations, and announced a quarterly dividend of $1.60 per share, yielding 1.3%.

E. Ohman J or Asset Management AB decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 14.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,730 shares of the financial services provider's stock after selling 650 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Ameriprise Financial were worth $1,991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock worth $2,819,900,000 after purchasing an additional 1,023,002 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Ameriprise Financial by 55.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider's stock worth $1,086,724,000 after purchasing an additional 796,925 shares during the period. GAMMA Investing LLC lifted its position in Ameriprise Financial by 49,248.9% during the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock worth $1,023,461,000 after purchasing an additional 2,109,824 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Ameriprise Financial by 1.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider's stock worth $770,886,000 after purchasing an additional 23,655 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Ameriprise Financial by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock worth $578,852,000 after purchasing an additional 266,631 shares during the period. Institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMP. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler increased their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Royal Bank Of Canada increased their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Morgan Stanley cut shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their target price for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Finally, Raymond James Financial increased their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $534.71.

Insider Activity at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company's stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $486.99 on Tuesday. The company has a market capitalization of $45.91 billion, a PE ratio of 15.15, a P/E/G ratio of 1.06 and a beta of 1.27. The company has a 50 day simple moving average of $514.75 and a two-hundred day simple moving average of $502.38. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05.

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

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio is currently 19.91%.

About Ameriprise Financial

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.

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