Graham Capital Management L.P. Increases Stake in Ameriprise Financial, Inc. $AMP

Key Points

• Graham Capital Management L.P. increased its stake in Ameriprise Financial by 297.7% in Q1, acquiring an additional 4,332 shares, bringing its total to 5,787 shares worth approximately $2.8 million.
• Ameriprise Financial reported a quarterly earnings per share of $9.11, surpassing estimates, with revenue increasing 2.2% compared to the previous year.
• The company declared a quarterly dividend of $1.60 per share, representing an annualized dividend yield of 1.2% and a payout ratio of 19.91%.

Graham Capital Management L.P. raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 297.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,787 shares of the financial services provider's stock after purchasing an additional 4,332 shares during the period. Graham Capital Management L.P.'s holdings in Ameriprise Financial were worth $2,802,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of Ameriprise Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after acquiring an additional 83 shares during the period. Spire Wealth Management lifted its position in Ameriprise Financial by 91.6% during the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock valued at $692,000 after purchasing an additional 683 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Ameriprise Financial by 488.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock worth $470,000 after acquiring an additional 806 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ameriprise Financial by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider's stock worth $12,055,000 after acquiring an additional 1,433 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Ameriprise Financial by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider's stock worth $2,864,000 after acquiring an additional 420 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded down $22.47 during trading on Friday, hitting $489.44. The company's stock had a trading volume of 678,067 shares, compared to its average volume of 500,217. 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 12 month low of $396.14 and a 12 month high of $582.05. The firm has a market cap of $46.14 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.08 and a beta of 1.27. The company has a 50-day moving average of $521.00 and a 200-day moving average of $504.80.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates 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 was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $8.72 earnings per share. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $1.60 dividend. 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 is presently 19.91%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares of the company's stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective 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. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Morgan Stanley downgraded shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their target price for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Finally, Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.