FORA Capital LLC Sells 5,763 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• FORA Capital LLC has reduced its stake in Ameriprise Financial by 48%, now owning 6,255 shares valued at approximately $3 million.
• Despite the reduction by FORA Capital, 83.95% of Ameriprise Financial's stock is owned by hedge funds and institutional investors, indicating strong institutional interest.
• Ameriprise Financial reported earnings per share (EPS) of $9.11 for the last quarter, exceeding expectations, alongside a revenue increase of 2.2% year-over-year.

FORA Capital LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 48.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,255 shares of the financial services provider's stock after selling 5,763 shares during the period. FORA Capital LLC's holdings in Ameriprise Financial were worth $3,028,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AMP. Forum Financial Management LP increased its stake in shares of Ameriprise Financial by 1.4% in the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock worth $790,000 after purchasing an additional 21 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock worth $665,000 after purchasing an additional 21 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Ameriprise Financial by 3.0% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider's stock worth $345,000 after purchasing an additional 21 shares in the last quarter. Argent Trust Co increased its stake in shares of Ameriprise Financial by 1.3% in the first quarter. Argent Trust Co now owns 1,698 shares of the financial services provider's stock worth $822,000 after purchasing an additional 21 shares in the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of Ameriprise Financial by 1.3% in the first quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider's stock worth $852,000 after purchasing an additional 22 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of analyst reports. William Blair cut shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Royal Bank Of Canada raised their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Piper Sandler raised their target price 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. Finally, Raymond James Financial raised their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $534.71.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded down $1.17 on Friday, reaching $515.46. The company's stock had a trading volume of 418,838 shares, compared to its average volume of 386,783. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a market cap of $48.59 billion, a P/E ratio of 16.04, a PEG ratio of 1.10 and a beta of 1.24. The company has a 50-day simple moving average of $521.88 and a 200 day simple moving average of $505.44. 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 (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same period last year, the company posted $8.72 EPS. The business's revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is presently 19.91%.

Insider Activity

In other news, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 0.73% of the company's stock.

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.