Point72 Asia Singapore Pte. Ltd. Decreases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Point72 Asia Singapore Pte. Ltd. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 91.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 334 shares of the financial services provider’s stock after selling 3,671 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Ameriprise Financial were worth $143,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Heartland Bank & Trust Co boosted its holdings in shares of Ameriprise Financial by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after purchasing an additional 24 shares during the period. Portside Wealth Group LLC grew its position in shares of Ameriprise Financial by 3.7% in the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after buying an additional 25 shares during the last quarter. Signaturefd LLC increased its stake in shares of Ameriprise Financial by 1.1% during the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock valued at $1,007,000 after buying an additional 26 shares during the period. Coldstream Capital Management Inc. raised its holdings in shares of Ameriprise Financial by 0.7% during the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock valued at $1,606,000 after acquiring an additional 26 shares in the last quarter. Finally, Aua Capital Management LLC lifted its stake in Ameriprise Financial by 4.7% in the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 27 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.2 %

Shares of NYSE:AMP opened at $479.54 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock has a fifty day simple moving average of $438.05 and a two-hundred day simple moving average of $431.95. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $482.23. The stock has a market capitalization of $47.63 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 0.80 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business posted $7.44 EPS. Ameriprise Financial’s revenue was up 9.6% compared to the same quarter last year. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared 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. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research reports. 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 report on Friday, June 28th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Morgan Stanley lowered their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Finally, UBS Group reduced their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $463.00.

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.