Ameriprise Financial, Inc. $AMP Shares Bought by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in Ameriprise Financial by 42.4%, holding shares worth approximately $1.13 million as of the latest SEC filing.
• Ameriprise Financial reported $9.11 EPS for the most recent quarter, exceeding the consensus estimate, and had a revenue of $4.49 billion, marking a 2.2% year-over-year increase.
• The company's quarterly dividend announcement included a payout of $1.60 per share, representing an annualized yield of 1.3% and a payout ratio of 19.91%.

Focus Partners Advisor Solutions LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 42.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,331 shares of the financial services provider's stock after acquiring an additional 694 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Ameriprise Financial were worth $1,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Ameriprise Financial by 21.3% in the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock valued at $2,819,900,000 after purchasing an additional 1,023,002 shares during the period. GAMMA Investing LLC boosted its stake in shares of Ameriprise Financial by 49,248.9% in the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after purchasing an additional 2,109,824 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Ameriprise Financial by 1.7% in 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 valued at $770,886,000 after acquiring an additional 23,655 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake 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 valued at $578,852,000 after buying an additional 266,631 shares during the period. Finally, Nuveen LLC bought a new stake in Ameriprise Financial in the first quarter valued at $469,334,000. 83.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMP has been the subject of a number of research reports. Raymond James Financial boosted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Royal Bank Of Canada boosted their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Finally, Piper Sandler increased their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. One equities research 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, the stock presently has a consensus rating of "Hold" and an average price target of $534.71.

Ameriprise Financial Stock Up 0.6%

NYSE AMP traded up $3.12 on Monday, hitting $492.40. 412,162 shares of the stock were exchanged, compared to its average volume of 499,540. The company has a market cap of $46.42 billion, a PE ratio of 15.27, a PEG ratio of 1.04 and a beta of 1.27. The company has a 50-day moving average price of $520.22 and a 200-day moving average price of $503.84. 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, 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 announced its quarterly 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 firm had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. Ameriprise Financial's revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $8.72 earnings per share. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is 19.91%.

Insider Activity

In related news, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction 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 in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by insiders.

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.