GSA Capital Partners LLP reduced its position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 68.6% in the 2nd quarter, Holdings Channel reports. The firm owned 4,044 shares of the financial services provider’s stock after selling 8,834 shares during the quarter. GSA Capital Partners LLP’s holdings in Ameriprise Financial were worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in Ameriprise Financial in the 4th quarter valued at $742,438,000. AQR Capital Management LLC boosted its position in shares of Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after acquiring an additional 496,319 shares in the last quarter. M&T Bank Corp increased its stake in Ameriprise Financial by 1,440.2% in the fourth quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock valued at $228,572,000 after acquiring an additional 435,885 shares during the period. First Trust Advisors LP increased its stake in Ameriprise Financial by 85.5% in the fourth quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock valued at $406,216,000 after acquiring an additional 381,754 shares during the period. Finally, Qube Research & Technologies Ltd raised its position in Ameriprise Financial by 140.5% in the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after purchasing an additional 275,659 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.
Insiders Place Their Bets
In other news, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the sale, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Walter Stanley Berman sold 11,012 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the completion of the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,988 shares of company stock worth $16,316,497 over the last ninety days. Company insiders own 0.60% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Stock Report on AMP
Ameriprise Financial Stock Performance
NYSE:AMP opened at $570.06 on Monday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The firm has a 50 day moving average of $507.03 and a 200-day moving average of $480.15. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $51.25 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 0.77 and a beta of 1.14.
Ameriprise Financial (NYSE:AMP – Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.Ameriprise Financial’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $9.11 EPS. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.
Ameriprise Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be paid a $1.70 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial’s payout ratio is currently 16.40%.
Ameriprise Financial Profile
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.
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