Ameriprise Financial, Inc. $AMP Stock Position Increased by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its ownership in Ameriprise Financial by 43.9% in the first quarter, purchasing an additional 3,945 shares, bringing its total holdings to 12,931 shares valued at approximately $6.26 million.
• CEO William F. Truscott sold 9,929 shares of Ameriprise Financial at a price of $506.89 per share, resulting in a total of over $5 million from the transaction and reflecting a 47.34% reduction in his ownership.
• Ameriprise Financial recently reported earnings of $9.11 per share for the last quarter, exceeding estimates, with total revenues of $4.49 billion, indicating a year-over-year revenue increase of 2.2%.

Ieq Capital LLC grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 43.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,931 shares of the financial services provider's stock after purchasing an additional 3,945 shares during the period. Ieq Capital LLC's holdings in Ameriprise Financial were worth $6,260,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AMP. Forum Financial Management LP grew its holdings in Ameriprise Financial by 1.4% during the 4th quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock valued at $790,000 after purchasing an additional 21 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in Ameriprise Financial by 1.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock valued at $665,000 after buying an additional 21 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of Ameriprise Financial by 3.0% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider's stock valued at $345,000 after acquiring an additional 21 shares in the last quarter. Argent Trust Co increased its position in shares of Ameriprise Financial by 1.3% during the first quarter. Argent Trust Co now owns 1,698 shares of the financial services provider's stock worth $822,000 after acquiring an additional 21 shares during the last quarter. Finally, Ritholtz Wealth Management increased its position in shares of Ameriprise Financial by 1.3% during the first quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider's stock worth $852,000 after acquiring an additional 22 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded down $1.17 on Monday, reaching $515.46. 418,838 shares of the company's stock were exchanged, compared to its average volume of 382,908. The business's 50-day moving average is $521.88 and its two-hundred day moving average is $505.19. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The firm has a market capitalization of $48.59 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.10 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.72 EPS. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business 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 was Monday, August 4th. Ameriprise Financial's dividend payout ratio is presently 19.91%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AMP shares. William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Morgan Stanley cut Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their target price for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Piper Sandler lifted their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $534.71.

Insider Activity

In related news, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.