Erste Asset Management GmbH Sells 1,102 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Erste Asset Management GmbH reduced its stake in Ameriprise Financial by 2.9%, selling 1,102 shares to hold a total of 37,056 shares valued at approximately $17.96 million.
• A variety of institutional investors have recently adjusted their positions in Ameriprise Financial, with notable increases from multiple firms during the fourth quarter.
• Ameriprise Financial reported earnings of $9.11 per share for the most recent quarter, exceeding analyst expectations, and declared a quarterly dividend of $1.60 per share, reflecting an annual yield of 1.3%.

Erste Asset Management GmbH lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,056 shares of the financial services provider's stock after selling 1,102 shares during the period. Erste Asset Management GmbH's holdings in Ameriprise Financial were worth $17,962,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in Ameriprise Financial during the 4th quarter worth $26,000. Sunbeam Capital Management LLC bought a new position in shares of Ameriprise Financial in the 4th quarter valued at $31,000. Opal Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the 1st quarter valued at $36,000. Quarry LP increased its stake in shares of Ameriprise Financial by 148.6% in the 4th quarter. Quarry LP now owns 87 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC increased its stake in shares of Ameriprise Financial by 100.0% in the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Insider Activity

In related news, CEO William F. Truscott sold 9,929 shares of the company'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 owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AMP has been the topic of several recent analyst reports. William Blair lowered Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Morgan Stanley lowered Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their price target for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Raymond James Financial lifted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Piper Sandler lifted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Ameriprise Financial has an average rating of "Hold" and an average target price of $534.71.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $10.6240 during mid-day trading on Friday, hitting $515.8540. 441,906 shares of the stock traded hands, compared to its average volume of 411,409. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a market cap of $48.63 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.07 and a beta of 1.24. The firm has a 50 day simple moving average of $521.12 and a two-hundred day simple moving average of $506.26.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced 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 firm 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 business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $8.72 EPS. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.2%. Ameriprise Financial's payout ratio is presently 19.91%.

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.