Ameriprise Financial, Inc. $AMP Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 418,903 shares of the financial services provider’s stock after selling 32,006 shares during the quarter. TD Asset Management Inc’s holdings in Ameriprise Financial were worth $205,786,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cozad Asset Management Inc. grew its stake in shares of Ameriprise Financial by 7.9% in the third quarter. Cozad Asset Management Inc. now owns 411 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 30 shares in the last quarter. Mufg Securities Americas Inc. raised its stake in shares of Ameriprise Financial by 20.5% during the third quarter. Mufg Securities Americas Inc. now owns 2,543 shares of the financial services provider’s stock valued at $1,249,000 after purchasing an additional 433 shares in the last quarter. Compound Planning Inc. lifted its holdings in Ameriprise Financial by 33.7% in the third quarter. Compound Planning Inc. now owns 1,402 shares of the financial services provider’s stock worth $689,000 after purchasing an additional 353 shares during the period. Legacy Financial Advisors Inc. grew its position in Ameriprise Financial by 20.7% in the 3rd quarter. Legacy Financial Advisors Inc. now owns 582 shares of the financial services provider’s stock valued at $286,000 after buying an additional 100 shares in the last quarter. Finally, ROI Financial Advisors LLC increased its stake in Ameriprise Financial by 9.2% during the 3rd quarter. ROI Financial Advisors LLC now owns 1,464 shares of the financial services provider’s stock valued at $719,000 after buying an additional 123 shares during the period. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Jefferies Financial Group increased their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Trading Up 2.6%

Ameriprise Financial stock opened at $478.33 on Thursday. The firm has a market cap of $43.61 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 1.09 and a beta of 1.26. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $550.18. The firm’s 50 day moving average price is $499.42 and its two-hundred day moving average price is $488.89. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. The business had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $9.54 EPS. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s payout ratio is presently 17.60%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. This represents a 29.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,658 shares of company stock valued at $8,998,675. 0.73% of the stock is currently owned by corporate insiders.

About Ameriprise Financial

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.