Loudon Investment Management LLC Has $2.51 Million Position in Ameriprise Financial, Inc. $AMP

Loudon Investment Management LLC decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 21.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,695 shares of the financial services provider’s stock after selling 1,292 shares during the quarter. Ameriprise Financial makes up 1.4% of Loudon Investment Management LLC’s holdings, making the stock its 25th biggest position. Loudon Investment Management LLC’s holdings in Ameriprise Financial were worth $2,506,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AMP. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter worth about $29,000. TD Capital Management LLC lifted its position in Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 51 shares during the last quarter. WPG Advisers LLC acquired a new stake in Ameriprise Financial during the first quarter worth approximately $33,000. Opal Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the first quarter worth approximately $36,000. Finally, TCTC Holdings LLC grew its position 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 purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial 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 transaction, the chief executive officer 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Heather J. Melloh sold 1,500 shares of the business’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 approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $490.50 on Wednesday. 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 company has a market cap of $46.24 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.06 and a beta of 1.27. The company has a 50 day moving average of $505.04 and a 200-day moving average of $502.19. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $8.72 earnings per share. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is currently 19.91%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley cut Ameriprise Financial from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. 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 research note on Wednesday, July 30th. Raymond James Financial lifted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $544.50.

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.