Ameriprise Financial, Inc. $AMP Holdings Raised by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS AM increased its holdings in Ameriprise Financial by 55.0% during the first quarter, owning approximately $1.09 billion worth of shares, totaling 2,244,788 shares.
• Several institutional investors, including GAMMA Investing and JPMorgan Chase, have also significantly increased their stakes in Ameriprise Financial, contributing to institutional ownership of 83.95% of the company's stock.
• Ameriprise Financial reported a $9.11 EPS for the last quarter, exceeding estimates and achieving a 18.3% net margin, while also announcing a quarterly dividend of $1.60 per share.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 55.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,244,788 shares of the financial services provider's stock after buying an additional 796,925 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 2.36% of Ameriprise Financial worth $1,086,724,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMP. JPMorgan Chase & Co. grew its holdings in shares of Ameriprise Financial by 21.3% in the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock valued at $2,819,900,000 after purchasing an additional 1,023,002 shares during the period. GAMMA Investing LLC lifted its position in Ameriprise Financial by 49,248.9% in the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after buying an additional 2,109,824 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Ameriprise Financial by 28.7% in 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 during the period. Nuveen LLC purchased a new stake in shares of Ameriprise Financial during the first quarter worth $469,334,000. Finally, Royal Bank of Canada raised its stake in shares of Ameriprise Financial by 1.1% in the first quarter. Royal Bank of Canada now owns 733,036 shares of the financial services provider's stock valued at $354,870,000 after acquiring an additional 7,840 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial 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 sale, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Piper Sandler increased their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their price objective for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Finally, Raymond James Financial lifted 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. One 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 given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $534.71.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded down $3.82 during midday trading on Friday, hitting $497.15. 302,141 shares of the stock were exchanged, compared to its average volume of 401,374. The stock has a market cap of $46.87 billion, a P/E ratio of 15.47, a PEG ratio of 1.07 and a beta of 1.27. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a 50 day moving average price of $515.73 and a 200-day moving average price of $503.05.

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

Ameriprise Financial Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.3%. Ameriprise Financial's payout ratio is 19.91%.

Ameriprise Financial Company 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.