Ameriprise Financial, Inc. (NYSE:AMP) Stock Holdings Trimmed by TIAA Trust National Association

TIAA Trust National Association lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,725 shares of the financial services provider’s stock after selling 337 shares during the period. TIAA Trust National Association’s holdings in Ameriprise Financial were worth $1,164,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at $514,539,000. JPMorgan Chase & Co. raised its holdings in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after acquiring an additional 603,267 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after purchasing an additional 512,884 shares during the period. TD Asset Management Inc grew its stake in shares of Ameriprise Financial by 151.5% in the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after purchasing an additional 358,780 shares during the period. Finally, Swedbank AB bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $108,938,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.8 %

Shares of AMP opened at $439.50 on Friday. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $450.35. The stock has a market capitalization of $43.65 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 0.78 and a beta of 1.37. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a fifty day moving average of $427.95 and a 200-day moving average of $425.51.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $7.44 earnings per share. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.35%. Ameriprise Financial’s dividend payout ratio is 20.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMP shares. Morgan Stanley decreased their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Royal Bank of Canada raised their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Jefferies Financial Group lifted their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Piper Sandler decreased their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Finally, UBS Group lowered their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $464.33.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Ameriprise Financial 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.