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

Boyar Asset Management Inc. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,168 shares of the financial services provider’s stock after selling 128 shares during the quarter. Ameriprise Financial accounts for about 7.0% of Boyar Asset Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Boyar Asset Management Inc.’s holdings in Ameriprise Financial were worth $10,765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. Wealth Preservation Advisors LLC acquired a new position in shares of Ameriprise Financial in the first quarter valued at approximately $29,000. TD Capital Management LLC boosted its holdings in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares during the period. WPG Advisers LLC acquired a new position in shares of Ameriprise Financial in the first quarter valued at approximately $33,000. Opal Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial in the first quarter valued at approximately $36,000. Finally, TCTC Holdings LLC boosted its holdings in shares of Ameriprise Financial by 100.0% in the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock valued at $47,000 after buying an additional 49 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMP. Royal Bank Of Canada upped their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. Piper Sandler increased their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Raymond James Financial increased their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $535.14.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction dated Thursday, September 4th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction 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 $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

NYSE AMP opened at $491.67 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average price is $502.93 and its two-hundred day moving average price is $502.10. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The firm has a market capitalization of $46.35 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm 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 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a dividend of $1.60 per share. 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 19.91%.

About Ameriprise Financial

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.