73,531 Shares in Ameriprise Financial, Inc. $AMP Acquired by Woodline Partners LP

Key Points

• Woodline Partners LP acquired a new stake in Ameriprise Financial, purchasing 73,531 shares valued at approximately $35.6 million, representing 0.08% of the company's stock.
• Institutional investors hold 83.95% of Ameriprise Financial's shares, with notable increases in holdings from GAMMA Investing LLC and JPMorgan Chase & Co.
• Ameriprise Financial reported earnings of $9.11 per share, exceeding analysts' expectations and achieving a year-over-year revenue growth of 2.2%.

Woodline Partners LP purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 73,531 shares of the financial services provider's stock, valued at approximately $35,597,000. Woodline Partners LP owned about 0.08% of Ameriprise Financial as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Plancorp LLC raised its position in shares of Ameriprise Financial by 4.8% during the first quarter. Plancorp LLC now owns 441 shares of the financial services provider's stock worth $213,000 after purchasing an additional 20 shares during the period. Forum Financial Management LP raised its position in shares of Ameriprise Financial by 1.4% during the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock worth $790,000 after purchasing an additional 21 shares during the period. Pinnacle Associates Ltd. raised its position in shares of Ameriprise Financial by 1.6% during the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock worth $665,000 after purchasing an additional 21 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Ameriprise Financial by 3.0% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider's stock worth $345,000 after purchasing an additional 21 shares during the period. Finally, Argent Trust Co grew its holdings in shares of Ameriprise Financial by 1.3% during the first quarter. Argent Trust Co now owns 1,698 shares of the financial services provider's stock worth $822,000 after buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Trading Down 0.8%

Shares of NYSE AMP traded down $3.82 during trading on Friday, reaching $497.15. The company had a trading volume of 302,141 shares, compared to its average volume of 401,374. The company's fifty day moving average price is $515.73 and its 200-day moving average price is $503.05. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. 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 quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating 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 for 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. The firm's revenue was up 2.2% compared to the same quarter last year. As a group, research analysts expect 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. Stockholders of record on Monday, August 4th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial's dividend payout ratio is 19.91%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on 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 $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction 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 sale, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler raised their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Raymond James Financial lifted 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. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $534.71.

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.