American Trust Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

American Trust cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 16.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 670 shares of the financial services provider’s stock after selling 128 shares during the period. American Trust’s holdings in Ameriprise Financial were worth $286,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMP. Empirical Finance LLC boosted its stake in shares of Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after buying an additional 113 shares during the period. Nomura Holdings Inc. acquired a new position in Ameriprise Financial during the 4th quarter worth approximately $775,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Ameriprise Financial by 7.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after purchasing an additional 8,693 shares in the last quarter. BDF Gestion purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth $2,836,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of Ameriprise Financial by 12.8% during the first quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock worth $8,242,000 after purchasing an additional 2,139 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMP. Jefferies Financial Group raised 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. Keefe, Bruyette & Woods decreased their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Piper Sandler dropped their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. UBS Group reduced their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Morgan Stanley dropped their target price on shares of 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $463.00.

Ameriprise Financial Stock Up 1.5 %

AMP stock opened at $480.34 on Thursday. The company has a market cap of $47.71 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. The company has a fifty day moving average price of $437.29 and a 200 day moving average price of $431.61. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $482.23.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the company earned $7.44 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. Sell-side analysts expect that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.23%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Insider Activity

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on 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 transaction, 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 legal filing with the SEC, which is accessible through this link. Corporate 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.