J. Safra Sarasin Holding AG Sells 4,183 Shares of Ameriprise Financial, Inc. $AMP

J. Safra Sarasin Holding AG reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 57,604 shares of the financial services provider’s stock after selling 4,183 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Ameriprise Financial were worth $30,745,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Ameriprise Financial by 1.9% during the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $2,114,000 after purchasing an additional 83 shares during the last quarter. Spire Wealth Management boosted its stake in Ameriprise Financial by 91.6% in the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider’s stock valued at $692,000 after acquiring an additional 683 shares during the last quarter. Ascent Group LLC bought a new position in Ameriprise Financial in the first quarter valued at approximately $371,000. Advisory Alpha LLC bought a new position in Ameriprise Financial in the first quarter valued at approximately $265,000. Finally, Exchange Traded Concepts LLC boosted its stake in Ameriprise Financial by 488.5% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 806 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of AMP opened at $487.04 on Thursday. The firm has a 50-day moving average of $504.05 and a 200-day moving average of $502.09. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The company has a market cap of $45.91 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 1.05 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the firm posted $8.72 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a dividend of $1.60 per share. 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 payout ratio is presently 19.91%.

Analyst Ratings Changes

A number of brokerages have issued reports on AMP. Piper Sandler raised their price objective 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. Royal Bank Of Canada raised their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Morgan Stanley reduced their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $536.83.

Insider Activity

In related news, 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 transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial 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 sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

About Ameriprise Financial

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.