GSA Capital Partners LLP Sells 8,834 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• GSA Capital Partners cut its Ameriprise Financial stake by 68.6% in the second quarter, selling 8,834 shares and retaining 4,044 shares valued at approximately $1.86 million. Institutional investors own 83.95% of AMP.
• Ameriprise reported quarterly earnings of $11.07 per share, exceeding estimates of $10.81, while revenue rose 11.6% year over year to $4.90 billion. The company declared a quarterly dividend of $1.70 per share, equivalent to a 1.2% annual yield.
• AMP shares opened at $570.06, near their 12-month high, and analysts maintain a “Moderate Buy” consensus with an average price target of $555.33. Meanwhile, insiders have sold nearly 30,000 shares worth $16.3 million over the past 90 days.

GSA Capital Partners LLP lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 68.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,044 shares of the financial services provider's stock after selling 8,834 shares during the period. GSA Capital Partners LLP's holdings in Ameriprise Financial were worth $1,855,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AMP. SouthState Bank Corp raised its stake in shares of Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Ameriprise Financial during the first quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial during the second quarter valued at approximately $28,000. Ares Financial Consulting LLC acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $32,000. Finally, Prosperity Bancshares Inc bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $33,000. Institutional investors own 83.95% of the company's stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. This trade represents a 41.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William Jerryl Williams sold 8,210 shares of the business's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. The trade was a 54.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company's stock.

Ameriprise Financial Stock Up 0.1%

Shares of AMP stock opened at $570.06 on Monday. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The firm has a market cap of $51.25 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.77 and a beta of 1.14. The stock has a 50 day moving average of $507.03 and a 200-day moving average of $480.15. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating the consensus estimate of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.Ameriprise Financial's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $9.11 earnings per share. On average, equities analysts predict that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial's dividend payout ratio is 16.40%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMP shares. Weiss Ratings upgraded shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. Zacks Research upgraded shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Finally, BMO Capital Markets upped their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Ameriprise Financial currently has an average rating of "Moderate Buy" and an average price target of $555.33.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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