Ameriprise Financial, Inc. $AMP Shares Sold by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd reduced its holdings in Ameriprise Financial by 24.1% in the first quarter, owning 15,100 shares valued at $7.31 million.
• Ameriprise Financial's stock is currently down 4.4% and its quarterly earnings of $9.11 per share surpassed analysts' expectations, showing a revenue increase of 2.2% compared to the same period last year.
• The company recently declared a quarterly dividend of $1.60 per share, representing an annual yield of 1.3% with a dividend payout ratio of 19.91%.

USS Investment Management Ltd decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 24.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,100 shares of the financial services provider's stock after selling 4,800 shares during the period. USS Investment Management Ltd's holdings in Ameriprise Financial were worth $7,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. UniSuper Management Pty Ltd lifted its position in shares of Ameriprise Financial by 5.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 8,031 shares of the financial services provider's stock valued at $3,888,000 after buying an additional 394 shares in the last quarter. Plancorp LLC lifted its holdings in Ameriprise Financial by 4.8% in the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider's stock valued at $213,000 after purchasing an additional 20 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Ameriprise Financial by 0.4% in the 1st quarter. NewEdge Advisors LLC now owns 13,745 shares of the financial services provider's stock valued at $6,654,000 after purchasing an additional 48 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ameriprise Financial by 5.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,207 shares of the financial services provider's stock valued at $5,425,000 after purchasing an additional 606 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in Ameriprise Financial by 2.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,867 shares of the financial services provider's stock valued at $1,388,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

AMP has been the topic of a number of research reports. Piper Sandler raised their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Raymond James Financial raised their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods raised their target price 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. Finally, William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. One investment 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 MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and an average target price of $534.71.

Ameriprise Financial Trading Down 0.8%

Shares of NYSE:AMP traded down $3.82 during midday trading on Friday, reaching $497.15. 302,141 shares of the company's stock were exchanged, compared to its average volume of 401,374. The firm's 50 day simple moving average is $515.73 and its two-hundred day simple moving average is $502.89. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market cap of $46.87 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.07 and a beta of 1.27. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data 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 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 company's quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $8.72 EPS. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is presently 19.91%.

Insider Transactions at Ameriprise Financial

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