Ameriprise Financial, Inc. (NYSE:AMP) Position Trimmed by Resources Management Corp CT ADV

Resources Management Corp CT ADV decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 37.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165 shares of the financial services provider’s stock after selling 100 shares during the period. Resources Management Corp CT ADV’s holdings in Ameriprise Financial were worth $71,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AMP. TrinityPoint Wealth LLC lifted its position in 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 in the last quarter. Hsbc Holdings PLC increased its stake in shares of Ameriprise Financial by 9.0% in the fourth quarter. Hsbc Holdings PLC now owns 269,317 shares of the financial services provider’s stock worth $102,350,000 after acquiring an additional 22,213 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth $420,000. TD Asset Management Inc boosted its position in Ameriprise Financial by 151.5% during the fourth 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 last quarter. Finally, Stifel Financial Corp boosted its position in Ameriprise Financial by 1.8% during the fourth quarter. Stifel Financial Corp now owns 81,513 shares of the financial services provider’s stock valued at $30,961,000 after purchasing an additional 1,428 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the 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 sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent research reports. Piper Sandler cut their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. UBS Group cut their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Trading Up 0.3 %

Shares of AMP opened at $463.38 on Wednesday. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $465.82. The firm has a market capitalization of $46.03 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 0.75 and a beta of 1.35. The stock’s 50-day moving average price is $431.16 and its 200 day moving average price is $429.39. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

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

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.28%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

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.