Qtron Investments LLC Sells 1,163 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Qtron Investments LLC has reduced its holdings in Ameriprise Financial by 48.8%, selling 1,163 shares and leaving it with 1,220 shares valued at $591,000.
• Other institutional investors, such as Spire Wealth Management and Exchange Traded Concepts LLC, have significantly increased their positions in Ameriprise Financial, with ownership currently at 83.95% by institutional investors.
• Ameriprise Financial recently reported earnings of $9.11 per share, surpassing analysts' expectations, and has announced a quarterly dividend of $1.60 per share.

Qtron Investments LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 48.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,220 shares of the financial services provider's stock after selling 1,163 shares during the quarter. Qtron Investments LLC's holdings in Ameriprise Financial were worth $591,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Ameriprise Financial by 1.9% during the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock worth $2,114,000 after buying an additional 83 shares during the period. Spire Wealth Management raised its stake in Ameriprise Financial by 91.6% during the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock worth $692,000 after buying an additional 683 shares during the period. Exchange Traded Concepts LLC raised its stake in Ameriprise Financial by 488.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock worth $470,000 after buying an additional 806 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Ameriprise Financial by 6.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider's stock worth $12,055,000 after buying an additional 1,433 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Ameriprise Financial by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider's stock worth $2,864,000 after buying an additional 420 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMP shares. Raymond James Financial raised their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. Piper Sandler raised their price objective on 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 raised their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and raised their price objective for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Finally, William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $534.71.

Ameriprise Financial Stock Up 2.1%

AMP stock traded up $10.6240 during trading hours on Friday, reaching $515.8540. 441,906 shares of the stock were exchanged, compared to its average volume of 411,409. The firm's 50-day moving average is $521.12 and its 200-day moving average is $506.26. The company has a market cap of $48.63 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.07 and a beta of 1.24. 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 released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. The firm had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company's revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.72 EPS. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders 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 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial's dividend payout ratio (DPR) is presently 19.91%.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the firm'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 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 at the SEC website. 0.73% of the stock is owned by insiders.

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.