Groupe la Francaise Buys 1,941 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Groupe la Francaise increased its stake in Ameriprise Financial by 14.0%, owning a total of 15,834 shares worth approximately $7.90 million as of the latest reporting period.
• Ameriprise Financial reported earnings of $9.11 EPS, surpassing estimates, with a net margin of 18.3% and revenue of $4.49 billion for the quarter.
• The company declared a quarterly dividend of $1.60, representing an annual yield of 1.2% and a payout ratio of 19.91%.

Groupe la Francaise lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 14.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,834 shares of the financial services provider's stock after buying an additional 1,941 shares during the quarter. Groupe la Francaise's holdings in Ameriprise Financial were worth $7,899,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after purchasing an additional 50 shares during the last quarter. Marshall Wace LLP raised its holdings in Ameriprise Financial by 1,200.6% during the 4th quarter. Marshall Wace LLP now owns 6,503 shares of the financial services provider's stock worth $3,462,000 after purchasing an additional 6,003 shares during the last quarter. MGO One Seven LLC raised its holdings in Ameriprise Financial by 4.1% during the 4th quarter. MGO One Seven LLC now owns 3,723 shares of the financial services provider's stock worth $1,982,000 after purchasing an additional 145 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Ameriprise Financial by 14.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 88,818 shares of the financial services provider's stock worth $47,289,000 after purchasing an additional 11,250 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Ameriprise Financial by 62.3% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 23,907 shares of the financial services provider's stock worth $12,814,000 after purchasing an additional 9,173 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Down 0.4%

AMP stock traded down $1.85 during mid-day trading on Thursday, reaching $516.41. The company's stock had a trading volume of 102,269 shares, compared to its average volume of 499,520. The company has a market cap of $48.68 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.10 and a beta of 1.24. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The business's 50 day moving average price is $521.54 and its 200 day moving average price is $505.76. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. The firm had revenue of $4.49 billion during 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 company's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.72 earnings per share. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared 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 1.2%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio is currently 19.91%.

Insider Activity at Ameriprise Financial

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

Analysts Set New Price Targets

Several analysts have weighed in on AMP shares. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler upped their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada increased their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. One investment 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 given a Sell rating to the company's stock. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of "Hold" and an average target price of $534.71.

About Ameriprise Financial

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.