AIA Group Ltd decreased its position in Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 78.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 743 shares of the financial services provider’s stock after selling 2,631 shares during the quarter. AIA Group Ltd’s holdings in Ameriprise Financial were worth $223,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of AMP. Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Ameriprise Financial in the 4th quarter valued at about $32,000. Confluence Wealth Services Inc. bought a new position in shares of Ameriprise Financial in the 4th quarter valued at about $39,000. KRS Capital Management LLC bought a new position in shares of Ameriprise Financial in the 4th quarter valued at about $39,000. DeDora Capital Inc. bought a new position in shares of Ameriprise Financial in the 1st quarter valued at about $41,000. Finally, Covestor Ltd bought a new position in shares of Ameriprise Financial in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 82.69% of the company’s stock.
Ameriprise Financial Trading Down 0.1 %
Shares of NYSE:AMP opened at $269.06 on Friday. Ameriprise Financial, Inc. has a 12-month low of $219.99 and a 12-month high of $332.37. The stock has a market cap of $29.10 billion, a PE ratio of 9.69 and a beta of 1.50. The business has a 50 day moving average of $249.43 and a 200-day moving average of $275.19. The company has a quick ratio of 0.94, a current ratio of 0.90 and a debt-to-equity ratio of 1.14.
Ameriprise Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Monday, August 8th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.86%. Ameriprise Financial’s payout ratio is 18.01%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Piper Sandler decreased their price objective on Ameriprise Financial from $231.00 to $220.00 and set an “underweight” rating for the company in a report on Friday, July 15th. Morgan Stanley lifted their price target on Ameriprise Financial from $255.00 to $270.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 27th. William Blair reiterated an “outperform” rating on shares of Ameriprise Financial in a report on Tuesday, April 26th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $325.00 to $270.00 in a report on Friday, June 24th. Finally, Evercore ISI reduced their price target on Ameriprise Financial from $364.00 to $320.00 and set an “outperform” rating for the company in a report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $311.78.
About Ameriprise Financial
Ameriprise Financial, Inc, through 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.
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