Ameriprise Financial, Inc. $AMP Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC decreased its stake in Ameriprise Financial by 9.1% during the first quarter, selling 712 shares and bringing their total holdings to 7,078 shares, valued at approximately $3.4 million.
• Ameriprise Financial reported a quarterly EPS of $9.11, exceeding the expected $9.00, and had revenue of $4.49 billion, surpassing the consensus of $4.33 billion.
• The firm announced a dividend of $1.60 per share, representing an annualized dividend yield of 1.3%, with a payout ratio of 19.91%.

Great Lakes Advisors LLC decreased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 9.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,078 shares of the financial services provider's stock after selling 712 shares during the quarter. Great Lakes Advisors LLC's holdings in Ameriprise Financial were worth $3,426,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $26,000. TD Capital Management LLC boosted its position in shares of Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC bought a new stake in Ameriprise Financial in the first quarter valued at $29,000. Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $31,000. Finally, WPG Advisers LLC bought a new position in Ameriprise Financial during the 1st quarter valued at $33,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMP. Royal Bank Of Canada boosted their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Piper Sandler raised their price target 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. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Morgan Stanley downgraded shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their target price for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and a consensus target price of $534.71.

Ameriprise Financial Stock Performance

Shares of NYSE AMP traded down $3.82 during midday trading on Friday, reaching $497.15. The company had a trading volume of 302,141 shares, compared to its average volume of 401,374. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The business's 50-day simple moving average is $515.73 and its 200 day simple moving average is $502.89. The stock has a market cap of $46.87 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.07 and a beta of 1.27. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm posted $8.72 earnings per share. The firm's quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is currently 19.91%.

Insider Activity

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial 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 sale, the executive vice president owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial 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 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 disclosure for this sale can be found here. 0.73% of the stock is currently owned by company 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.