Amalgamated Bank Decreases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Amalgamated Bank lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% during the second quarter, Holdings Channel.com reports. The firm owned 21,324 shares of the financial services provider’s stock after selling 495 shares during the quarter. Amalgamated Bank’s holdings in Ameriprise Financial were worth $9,109,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. TrinityPoint Wealth LLC grew its position in shares of Ameriprise Financial by 15.4% in the 4th quarter. TrinityPoint Wealth LLC now owns 1,697 shares of the financial services provider’s stock worth $645,000 after buying an additional 227 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Ameriprise Financial by 2.6% during the fourth quarter. D.A. Davidson & CO. now owns 4,270 shares of the financial services provider’s stock worth $1,622,000 after purchasing an additional 110 shares in the last quarter. WBI Investments LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at $1,202,000. US Bancorp DE lifted its holdings in shares of Ameriprise Financial by 3.1% during the 4th quarter. US Bancorp DE now owns 98,904 shares of the financial services provider’s stock valued at $37,567,000 after purchasing an additional 2,953 shares during the last quarter. Finally, Hohimer Wealth Management LLC boosted its position in shares of Ameriprise Financial by 1.0% in the 4th quarter. Hohimer Wealth Management LLC now owns 12,409 shares of the financial services provider’s stock worth $4,713,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

AMP opened at $451.33 on Thursday. The firm has a 50 day moving average of $429.39 and a two-hundred day moving average of $427.90. The firm has a market capitalization of $44.83 billion, a PE ratio of 15.36, a P/E/G ratio of 0.75 and a beta of 1.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $458.23.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the company posted $7.44 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, analysts anticipate that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.31%. Ameriprise Financial’s payout ratio is 20.15%.

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on AMP shares. Royal Bank of Canada increased their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Piper Sandler decreased their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Morgan Stanley cut their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Finally, Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $464.33.

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.