Ameriprise Financial, Inc. $AMP Shares Sold by Unisphere Establishment

Key Points

• Unisphere Establishment reduced its stake in Ameriprise Financial by 45.5%, selling 9,150 shares and holding a total of 10,950 shares valued at approximately $5.3 million.
• Ameriprise Financial has received mixed ratings from analysts, with one Strong Buy, one Buy, and four Hold ratings, alongside two Sell ratings, while the average price target stands at $534.71.
• The company recently reported earnings of $9.11 per share, exceeding expectations, with revenue also surpassing analysts' forecasts at $4.49 billion.

Unisphere Establishment reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 45.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,950 shares of the financial services provider's stock after selling 9,150 shares during the period. Unisphere Establishment's holdings in Ameriprise Financial were worth $5,301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AMP. Brighton Jones LLC boosted its holdings in 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. Aptus Capital Advisors LLC boosted its holdings in Ameriprise Financial by 48.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,249 shares of the financial services provider's stock valued at $665,000 after purchasing an additional 405 shares during the period. Balyasny Asset Management L.P. purchased a new position in Ameriprise Financial in the fourth quarter valued at $633,000. Cary Street Partners Financial LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at $876,000. Finally, Captrust Financial Advisors boosted its holdings in Ameriprise Financial by 4.5% in the fourth quarter. Captrust Financial Advisors now owns 159,205 shares of the financial services provider's stock valued at $84,766,000 after purchasing an additional 6,902 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Down 4.4%

NYSE AMP traded down $22.47 during trading on Friday, reaching $489.44. 678,083 shares of the company's stock were exchanged, compared to its average volume of 396,931. The stock has a market cap of $46.14 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.04 and a beta of 1.27. 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 company has a 50 day moving average price of $520.22 and a two-hundred day moving average price of $503.84. 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, topping analysts' consensus estimates 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 the consensus estimate of $4.33 billion. During the same period in the previous year, the business earned $8.72 EPS. Ameriprise Financial's revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Insider Activity at Ameriprise Financial

In other 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 transaction of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AMP shares. Raymond James Financial lifted their target price on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Piper Sandler lifted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. William Blair lowered Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $534.71.

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.