Royal London Asset Management Ltd. Sells 1,044 Shares of Ameriprise Financial, Inc. $AMP

Royal London Asset Management Ltd. trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 40,045 shares of the financial services provider’s stock after selling 1,044 shares during the period. Royal London Asset Management Ltd.’s holdings in Ameriprise Financial were worth $18,371,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in Ameriprise Financial in the fourth quarter worth about $742,438,000. Bank of America Corp DE acquired a new stake in Ameriprise Financial during the second quarter valued at approximately $320,948,000. Legal & General Group Plc acquired a new stake in Ameriprise Financial during the second quarter valued at approximately $262,687,000. Hsbc Holdings PLC bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at approximately $248,547,000. Finally, Man Group plc bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at approximately $228,311,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.1%

Shares of AMP opened at $559.79 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $50.33 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.75 and a beta of 1.14. The stock has a fifty day moving average price of $526.87 and a two-hundred day moving average price of $482.40. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period last year, the company posted $9.11 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

Insider Activity at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the sale, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 29,988 shares of company stock valued at $16,316,497. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley raised their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Piper Sandler upped their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $555.33.

About Ameriprise Financial

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.