Ameriprise Financial, Inc. $AMP Shares Sold by UBS Group AG

UBS Group AG cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,053,859 shares of the financial services provider’s stock after selling 224,663 shares during the quarter. UBS Group AG’s holdings in Ameriprise Financial were worth $517,708,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial during the second quarter worth $32,000. Heartwood Wealth Advisors LLC purchased a new position in Ameriprise Financial during the third quarter worth about $32,000. Redmont Wealth Advisors LLC purchased a new position in Ameriprise Financial during the third quarter worth about $32,000. WFA of San Diego LLC acquired a new stake in Ameriprise Financial in the 2nd quarter worth about $36,000. Finally, Salomon & Ludwin LLC grew its holdings in Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock valued at $49,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AMP. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Argus dropped their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $555.67.

Insider Activity

In related news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the sale, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock worth $8,998,675 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 1.1%

AMP stock traded up $4.80 during midday trading on Friday, reaching $445.09. 86,656 shares of the company’s stock traded hands, compared to its average volume of 666,317. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $550.18. The business has a 50-day moving average price of $492.60 and a two-hundred day moving average price of $485.65. The company has a market capitalization of $40.58 billion, a P/E ratio of 12.26, a PEG ratio of 1.05 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the prior year, the business earned $9.54 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.