TD Asset Management Inc Reduces Holdings in Ameriprise Financial, Inc. $AMP

TD Asset Management Inc lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 7.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,903 shares of the financial services provider’s stock after selling 32,006 shares during the quarter. TD Asset Management Inc owned 0.45% of Ameriprise Financial worth $205,786,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Brighton Jones LLC lifted its stake in shares of Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares in the last quarter. Empowered Funds LLC raised its position in shares of Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after purchasing an additional 634 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 72 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Ameriprise Financial during the 2nd quarter valued at approximately $313,000. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Ameriprise Financial by 4.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,742 shares of the financial services provider’s stock worth $3,065,000 after buying an additional 220 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at $3,052,529.98. This represents a 55.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares in the company, valued at $6,464,239.92. This represents a 29.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,658 shares of company stock worth $8,998,675 in the last 90 days. 0.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on AMP shares. Argus cut their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Morgan Stanley increased their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. Jefferies Financial Group boosted their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Finally, Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $434.00 to $530.00 in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $555.67.

Ameriprise Financial Trading Up 2.6%

NYSE AMP opened at $478.33 on Thursday. 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, Inc. has a one year low of $396.14 and a one year high of $550.18. The company has a 50-day simple moving average of $499.42 and a 200-day simple moving average of $488.89. The firm has a market capitalization of $43.61 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.09 and a beta of 1.26.

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. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the prior year, the business earned $9.54 earnings per share. Ameriprise Financial’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

Ameriprise Financial Company Profile

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.