SVB Wealth LLC Sells 1,801 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• SVB Wealth LLC reduced its stake in Ameriprise Financial by 22.4%, selling 1,801 shares to hold a total of 6,254 shares valued at $3,027,000.
• Several hedge funds, including the University of Texas AM Investment Management Co. and Quarry LP, recently acquired or boosted their positions in Ameriprise Financial, highlighting significant institutional interest.
• Ameriprise Financial reported $9.11 EPS in its latest quarterly earnings, exceeding expectations, while also announcing a quarterly dividend of $1.60 per share.

SVB Wealth LLC decreased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 22.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,254 shares of the financial services provider's stock after selling 1,801 shares during the quarter. SVB Wealth LLC's holdings in Ameriprise Financial were worth $3,027,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMP. Brighton Jones LLC raised its position in shares of Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after purchasing an additional 50 shares during the period. Marshall Wace LLP raised its position in shares of Ameriprise Financial by 1,200.6% in the fourth quarter. Marshall Wace LLP now owns 6,503 shares of the financial services provider's stock valued at $3,462,000 after purchasing an additional 6,003 shares during the period. MGO One Seven LLC raised its position in shares of Ameriprise Financial by 4.1% in the fourth quarter. MGO One Seven LLC now owns 3,723 shares of the financial services provider's stock valued at $1,982,000 after purchasing an additional 145 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Ameriprise Financial by 14.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 88,818 shares of the financial services provider's stock valued at $47,289,000 after purchasing an additional 11,250 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Ameriprise Financial by 62.3% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 23,907 shares of the financial services provider's stock worth $12,814,000 after acquiring an additional 9,173 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded up $2.00 on Wednesday, hitting $518.89. The stock had a trading volume of 273,896 shares, compared to its average volume of 502,022. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The firm's 50 day moving average price is $521.28 and its 200-day moving average price is $505.67. The company has a market capitalization of $48.92 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.09 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 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 the consensus estimate of $4.33 billion. During the same quarter in the previous year, the company earned $8.72 EPS. The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial's dividend payout ratio is currently 19.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler raised their price objective 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. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Morgan Stanley downgraded shares of 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. 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 research note on Wednesday, July 30th. Finally, William Blair downgraded shares of 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 given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $534.71.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the firm's 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 sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.57% of the company's stock.

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.