J. Safra Sarasin Holding AG Lowers Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Key Points

• J. Safra Sarasin Holding AG reduced its holdings in Ameriprise Financial, Inc. by 6.3%, now owning 61,787 shares worth approximately $29.9 million.
• Several institutional investors have increased their stakes in Ameriprise Financial, with GAMMA Investing LLC making a significant 49,248.9% increase in its holdings during the first quarter.
• Ameriprise Financial announced a quarterly dividend of $1.60 per share, representing a yield of 1.3%, with a payout ratio of 19.91%.

J. Safra Sarasin Holding AG trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,787 shares of the financial services provider's stock after selling 4,126 shares during the period. J. Safra Sarasin Holding AG owned 0.06% of Ameriprise Financial worth $29,912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Ameriprise Financial by 49,248.9% during the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after purchasing an additional 2,109,824 shares during the period. Northern Trust Corp raised its position in shares of Ameriprise Financial by 19.8% during the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock valued at $675,344,000 after purchasing an additional 209,549 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $100,138,000. Federated Hermes Inc. raised its position in shares of Ameriprise Financial by 17.9% during the 1st quarter. Federated Hermes Inc. now owns 610,322 shares of the financial services provider's stock valued at $295,463,000 after purchasing an additional 92,653 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Ameriprise Financial by 56.1% during the 4th quarter. AQR Capital Management LLC now owns 241,242 shares of the financial services provider's stock valued at $128,444,000 after purchasing an additional 86,678 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded down $16.58 on Friday, reaching $501.61. The company's stock had a trading volume of 496,021 shares, compared to its average volume of 451,211. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a market cap of $47.76 billion, a P/E ratio of 15.61, a PEG ratio of 1.07 and a beta of 1.24. The company has a 50-day simple moving average of $522.52 and a 200 day simple moving average of $510.66. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.60 and a current ratio of 0.62.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping 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 business had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same period last year, the company posted $8.72 EPS. The business's revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its board has approved a share repurchase program on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be paid 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 of this dividend is Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is presently 19.91%.

Analyst Ratings Changes

Several brokerages have recently commented on AMP. Morgan Stanley downgraded shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and raised their price objective for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Raymond James Financial raised their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler lifted their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus 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.