Ameriprise Financial, Inc. $AMP Shares Sold by First Merchants Corp

First Merchants Corp decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,870 shares of the financial services provider’s stock after selling 313 shares during the quarter. First Merchants Corp’s holdings in Ameriprise Financial were worth $6,335,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Abel Hall LLC lifted its holdings in shares of Ameriprise Financial by 17.8% during the second quarter. Abel Hall LLC now owns 648 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 98 shares during the last quarter. REAP Financial Group LLC lifted its holdings in shares of Ameriprise Financial by 203.3% during the second quarter. REAP Financial Group LLC now owns 182 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 122 shares during the last quarter. Shell Asset Management Co. lifted its holdings in shares of Ameriprise Financial by 34.1% during the second quarter. Shell Asset Management Co. now owns 4,275 shares of the financial services provider’s stock valued at $2,282,000 after purchasing an additional 1,088 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in shares of Ameriprise Financial by 3.3% during the second quarter. KLP Kapitalforvaltning AS now owns 34,519 shares of the financial services provider’s stock valued at $18,424,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC purchased a new stake in shares of Ameriprise Financial during the second quarter valued at $291,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday. Raymond James Financial boosted their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target on the stock. Morgan Stanley dropped their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Finally, Piper Sandler upped their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $535.14.

Insider Activity

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $490.09 on Thursday. 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, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The stock’s 50-day moving average is $501.37 and its two-hundred day moving average is $502.07. The firm has a market cap of $46.20 billion, a P/E ratio of 15.25, a PEG ratio of 1.12 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the firm posted $8.72 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is presently 19.91%.

Ameriprise Financial Company Profile

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.