TD Private Client Wealth LLC Has $3.25 Million Position in Ameriprise Financial, Inc. $AMP

TD Private Client Wealth LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 19.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,605 shares of the financial services provider’s stock after selling 1,561 shares during the quarter. TD Private Client Wealth LLC’s holdings in Ameriprise Financial were worth $3,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMP. Norges Bank acquired a new position in shares of Ameriprise Financial during the second quarter worth $693,736,000. JPMorgan Chase & Co. increased its holdings in Ameriprise Financial by 7.7% in the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after purchasing an additional 446,080 shares during the period. Federated Hermes Inc. raised its position in Ameriprise Financial by 22.4% during the 2nd quarter. Federated Hermes Inc. now owns 747,083 shares of the financial services provider’s stock worth $398,741,000 after purchasing an additional 136,761 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Ameriprise Financial by 29.8% during the 2nd quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock worth $262,075,000 after buying an additional 112,784 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Ameriprise Financial by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock valued at $6,635,471,000 after buying an additional 111,386 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Evercore ISI cut their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Royal Bank Of Canada lowered their price target on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Argus lowered their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $528.75.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares of the company’s stock, valued at $3,382,050. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Down 2.9%

AMP stock opened at $495.15 on Wednesday. The stock’s 50 day simple moving average is $477.83 and its 200 day simple moving average is $494.56. The company has a market cap of $46.00 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 1.27 and a beta of 1.26. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter in the previous year, the company posted $9.02 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

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.