Ameriprise Financial, Inc. $AMP Stake Raised by TD Asset Management Inc

TD Asset Management Inc increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 432,746 shares of the financial services provider’s stock after acquiring an additional 13,843 shares during the period. TD Asset Management Inc owned about 0.47% of Ameriprise Financial worth $212,193,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Holos Integrated Wealth LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth about $30,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter worth about $32,000. Ares Financial Consulting LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $32,000. WFA of San Diego LLC purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth about $36,000. Finally, Activest Wealth Management raised its stake in shares of Ameriprise Financial by 777.8% during the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 70 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Down 0.8%

Shares of AMP stock opened at $442.04 on Thursday. The stock’s 50 day simple moving average is $455.69 and its 200 day simple moving average is $472.62. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The company has a market capitalization of $39.74 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.05 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the business earned $9.50 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts predict that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a $1.70 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 annualized dividend and a yield of 1.5%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating for the company. Piper Sandler raised their price target on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Morgan Stanley raised their price target on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings downgraded Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $543.22.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. The trade was a 16.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president directly owned 6,103 shares in the company, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.