Lansforsakringar Fondforvaltning AB publ Sells 808 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Lansforsakringar Fondforvaltning AB reduced its stake in Ameriprise Financial by 2.5%, ending with 32,127 shares valued at approximately $15.55 million.
• A variety of institutional investors have increased their holdings in Ameriprise Financial, with GAMMA Investing LLC scaling up its position by 49,248.9%, acquiring more than 2.1 million shares valued over $1 billion.
• Ameriprise Financial reported an EPS of $9.11 for the last quarter, surpassing analyst estimates and showing a 2.2% increase in revenue compared to the same quarter last year.

Lansforsakringar Fondforvaltning AB publ reduced its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,127 shares of the financial services provider's stock after selling 808 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Ameriprise Financial were worth $15,553,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. purchased a new stake in Ameriprise Financial during the fourth quarter worth about $26,000. Wealth Preservation Advisors LLC purchased a new position in Ameriprise Financial in the first quarter valued at approximately $29,000. Sunbeam Capital Management LLC bought a new position in Ameriprise Financial during the fourth quarter valued at $31,000. Opal Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the first quarter worth $36,000. Finally, Quarry LP raised its stake in shares of Ameriprise Financial by 148.6% in the fourth quarter. Quarry LP now owns 87 shares of the financial services provider's stock valued at $46,000 after buying an additional 52 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMP shares. Royal Bank Of Canada lifted their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their target price for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Piper Sandler increased their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Finally, Raymond James Financial increased their target price on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and an average price target of $534.71.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.57% of the company's stock.

Ameriprise Financial Trading Down 1.1%

NYSE AMP traded down $5.75 during trading on Wednesday, hitting $507.07. 69,036 shares of the company's stock traded hands, compared to its average volume of 497,277. The firm has a market cap of $47.80 billion, a P/E ratio of 15.80, a PEG ratio of 1.10 and a beta of 1.27. The stock has a fifty day moving average of $521.61 and a two-hundred day moving average of $505.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same period in the prior year, the business posted $8.72 EPS. Ameriprise Financial's quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial's dividend payout ratio is 19.91%.

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.