Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 8.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 616,938 shares of the financial services provider’s stock after selling 59,356 shares during the quarter. TD Asset Management Inc. owned about 0.64% of Ameriprise Financial worth $328,476,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMP. Proficio Capital Partners LLC boosted its stake in Ameriprise Financial by 79,679.4% during the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after purchasing an additional 371,306 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after buying an additional 358,699 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of Ameriprise Financial by 429.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after buying an additional 338,298 shares during the last quarter. Amundi increased its position in Ameriprise Financial by 48.0% in the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after acquiring an additional 208,195 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Ameriprise Financial during the 4th quarter valued at approximately $108,620,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

AMP stock opened at $508.82 on Tuesday. The firm has a 50 day moving average of $527.84 and a 200-day moving average of $521.83. The company has a market cap of $48.91 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.15 and a beta of 1.33. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.16%. Ameriprise Financial’s payout ratio is 17.91%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $514.89.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Company 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.