J. Safra Sarasin Holding AG Sells 33,190 Shares of Ameriprise Financial, Inc. $AMP

J. Safra Sarasin Holding AG lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 59.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,483 shares of the financial services provider’s stock after selling 33,190 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Ameriprise Financial were worth $11,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Qube Research & Technologies Ltd increased its stake in shares of Ameriprise Financial by 140.5% during the 3rd 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 during the last quarter. Man Group plc lifted its stake in Ameriprise Financial by 687.4% in the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock valued at $135,989,000 after purchasing an additional 241,665 shares during the last quarter. Federated Hermes Inc. grew its holdings in Ameriprise Financial by 29.3% during the third quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock worth $474,628,000 after purchasing an additional 219,080 shares during the period. Close Asset Management Ltd grew its holdings in Ameriprise Financial by 78.2% during the third quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock worth $227,652,000 after purchasing an additional 203,252 shares during the period. Finally, Woodline Partners LP increased its position in Ameriprise Financial by 1,776.6% during the third quarter. Woodline Partners LP now owns 193,285 shares of the financial services provider’s stock worth $94,951,000 after buying an additional 182,985 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.1%

Ameriprise Financial stock opened at $437.40 on Tuesday. The stock has a market cap of $39.88 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.01 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $550.18. The company’s 50-day moving average price is $477.13 and its two-hundred day moving average price is $479.77.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the company posted $9.54 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

Analyst Ratings Changes

AMP has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Morgan Stanley lifted their target price on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Jefferies Financial Group boosted their target price on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $555.67.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. This trade represents a 55.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This represents a 29.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,658 shares of company stock worth $8,998,675 in the last ninety days. 0.60% of the stock is owned by company insiders.

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.