IFM Investors Pty Ltd Sells 250 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

IFM Investors Pty Ltd trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,304 shares of the financial services provider’s stock after selling 250 shares during the period. IFM Investors Pty Ltd’s holdings in Ameriprise Financial were worth $10,009,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Retirement Group LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter valued at $25,000. DiNuzzo Private Wealth Inc. increased its holdings in Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new position in Ameriprise Financial during the second quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth about $28,000. Finally, Mascoma Wealth Management LLC grew its position in shares of Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after buying an additional 40 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMP has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Royal Bank of Canada raised their price objective on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Piper Sandler dropped their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $480.44.

Ameriprise Financial Trading Down 3.3 %

NYSE:AMP opened at $503.24 on Friday. The company has a market cap of $49.98 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $524.89. The business has a 50 day moving average price of $464.19 and a two-hundred day moving average price of $439.06. 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 released its earnings results 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. 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 the consensus estimate of $4.24 billion. During the same quarter last year, the firm earned $7.44 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s payout ratio is 20.15%.

Insider Activity at Ameriprise Financial

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 completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.73% of the stock is owned by company insiders.

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.