MetLife Investment Management LLC Cuts Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• MetLife Investment Management LLC has reduced its stake in Ameriprise Financial by 2.7%, owning 28,805 shares valued at approximately $13.95 million after selling 786 shares.
• Recent analyst revisions regarding Ameriprise Financial include a downgrade from Morgan Stanley and price target changes by several firms, with a consensus rating of "Hold" and an average price target of $534.71.
• Ameriprise Financial recently reported quarterly earnings of $9.11 per share, exceeding expectations, and announced a quarterly dividend of $1.60 per share, resulting in an annualized yield of 1.3%.

MetLife Investment Management LLC lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,805 shares of the financial services provider's stock after selling 786 shares during the period. MetLife Investment Management LLC's holdings in Ameriprise Financial were worth $13,945,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock worth $2,819,900,000 after acquiring an additional 1,023,002 shares during the last quarter. GAMMA Investing LLC boosted 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 worth $1,023,461,000 after purchasing an additional 2,109,824 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Ameriprise Financial by 1.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider's stock worth $770,886,000 after purchasing an additional 23,655 shares in the last quarter. Northern Trust Corp increased its position in shares of Ameriprise Financial by 19.8% during the fourth quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock worth $675,344,000 after acquiring an additional 209,549 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Ameriprise Financial by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock valued at $578,852,000 after purchasing an additional 266,631 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Down 0.2%

Shares of Ameriprise Financial stock traded down $1.17 during trading on Friday, reaching $515.46. 418,838 shares of the stock were exchanged, compared to its average volume of 500,615. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock's fifty day moving average is $521.88 and its 200 day moving average is $505.58. The firm has a market cap of $48.59 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.10 and a beta of 1.24. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05.

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

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial's dividend payout ratio (DPR) is 19.91%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Finally, Piper Sandler upped their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $534.71.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was 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 owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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.