Ameriprise Financial, Inc. (NYSE:AMP) Stock Holdings Lessened by TD Asset Management Inc.
TD Asset Management Inc. trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 15.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 291,388 shares of the financial services provider’s stock after selling 52,330 shares during the quarter. TD Asset Management Inc. owned 0.22% of Ameriprise Financial worth $42,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. MV Capital Management Inc. raised its position in Ameriprise Financial by 81.5% during the first quarter. MV Capital Management Inc. now owns 196 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 88 shares in the last quarter. Advantage Investment Management LLC acquired a new stake in Ameriprise Financial during the second quarter worth $29,000. NEXT Financial Group Inc boosted its stake in Ameriprise Financial by 46.6% during the second quarter. NEXT Financial Group Inc now owns 236 shares of the financial services provider’s stock worth $34,000 after buying an additional 75 shares in the last quarter. Farmers National Bank acquired a new stake in Ameriprise Financial during the first quarter worth $31,000. Finally, Capital Advisors Ltd. LLC acquired a new stake in Ameriprise Financial during the second quarter worth $35,000. 82.85% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on AMP. Royal Bank of Canada set a $145.00 price target on shares of Ameriprise Financial and gave the stock a “hold” rating in a research note on Friday, July 26th. Credit Suisse Group upgraded shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $145.00 to $202.00 in a research note on Monday, May 13th. Citigroup set a $178.00 price target on shares of Ameriprise Financial and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Argus began coverage on shares of Ameriprise Financial in a research note on Friday, July 5th. They set a “buy” rating on the stock. Finally, ValuEngine downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $176.50.
Shares of NYSE AMP traded up $1.38 during midday trading on Thursday, reaching $123.78. 19,360 shares of the company traded hands, compared to its average volume of 1,032,480. The firm has a market capitalization of $16.06 billion, a price-to-earnings ratio of 8.26 and a beta of 1.80. The business’s 50-day moving average price is $144.04. Ameriprise Financial, Inc. has a 12 month low of $95.69 and a 12 month high of $153.91. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $4.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.00 by $0.06. Ameriprise Financial had a return on equity of 37.73% and a net margin of 15.03%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the business posted $3.60 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities analysts expect that Ameriprise Financial, Inc. will post 16.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be issued a $0.97 dividend. The ex-dividend date is Friday, August 2nd. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.13%. Ameriprise Financial’s dividend payout ratio is 25.97%.
Ameriprise Financial Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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