Ameriprise Financial, Inc.

New York Stock Exchange
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Slightly Bullish +15

Assenagon Asset Management S.A. Sells 132,397 Shares of Ameriprise ...

AI-generated analysis

📉 Assenagon Asset Management S.A. cut its Ameriprise Financial position by 62.6% in Q1, selling 132,397 shares.

📈 SouthState Bank Corp increased its holdings by 78.6% in Q4 to own 50 shares valued at $25,000.

💰 Ameriprise Financial reported Q1 EPS of $11.26, surpassing analyst consensus estimates of $10.21.

📊 Revenue for the quarter reached $4.77 billion, representing a 9.7% increase compared to the same period last year.

💵 The company raised its quarterly dividend to $1.70 per share, resulting in an annualized yield of 1.5%.

🎯 Analyst consensus rating is 'Hold' with an average price target of $453.22 based on recent data.

📉 Morgan Stanley raised its price target to $467.00 but maintained an 'underweight' rating for the stock.

🏦 The firm maintains a market cap of $40.71 billion with a P/E ratio of 11.26 and a beta of 1.16.

👔 Director Robert Francis Sharpe, Jr. sold 1,200 shares for approximately $559,000 in late May.

👔 EVP Gerard P. Smyth sold 6,255 shares for approximately $2.96 million in mid-May.

Bullish Signals
  • Ameriprise Financial reported Q1 EPS of $11.26, which topped analyst consensus estimates by $1.05.
  • The company achieved a return on equity of 62.88% and a net margin of 20.57% for the quarter.
  • Revenue grew by 9.7% year-over-year to reach $4.77 billion, demonstrating solid business growth.
  • Weiss Ratings upgraded Ameriprise Financial from a 'hold' to a 'buy' rating in late June.
  • The company increased its quarterly dividend payout from $1.60 to $1.70 per share.
  • Piper Sandler raised its price target from $460.00 to $471.00 with a neutral rating.
Risk Factors
  • Assenagon Asset Management S.A., a significant institutional holder, reduced its stake by 62.6% in Q1.
  • Morgan Stanley maintains an 'underweight' rating despite raising its price target to $467.00.
  • The stock currently trades below its 50-day moving average of $460.54 and 200-day moving average of $473.07.
Full Analysis
Assenagon Asset Management S.A. significantly reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 62.6% during the first quarter, selling 132,397 shares and retaining a position worth approximately $35.16 million. While this major institutional investor exited a large portion of its holdings, several smaller entities including SouthState Bank Corp, Holos Integrated Wealth LLC, and Ares Financial Consulting LLC established or increased their positions in the fourth quarter. Analyst sentiment regarding AMP remains mixed with a consensus 'Hold' rating and an average price target of $543.22. Recent reports include Morgan Stanley raising its target to $467.00 while maintaining an 'underweight' rating, Piper Sandler increasing its target to $471.00 with a 'neutral' stance, and Weiss Ratings upgrading the stock from 'hold' to 'buy'. The company recently reported strong quarterly earnings of $11.26 per share, beating estimates, alongside revenue growth of 9.7% year-over-year. Ameriprise Financial continues to distribute dividends, having increased its quarterly payout to $1.70 per share with a yield of 1.5%. The stock currently trades around $452.88, maintaining a market capitalization of $40.71 billion and a P/E ratio of 11.26. Recent insider activity includes sales by Director Robert Francis Sharpe, Jr. and EVP Gerard P. Smyth, though these represent minor adjustments to their personal holdings compared to the institutional moves.