TD Asset Management Inc Acquires 13,843 Shares of Ameriprise Financial, Inc. $AMP

TD Asset Management Inc boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 432,746 shares of the financial services provider’s stock after purchasing an additional 13,843 shares during the period. TD Asset Management Inc’s holdings in Ameriprise Financial were worth $212,193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Sivia Capital Partners LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $1,252,000. Greenspring Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $305,000. Lido Advisors LLC grew its holdings in shares of Ameriprise Financial by 1.0% during the 4th quarter. Lido Advisors LLC now owns 10,669 shares of the financial services provider’s stock worth $5,239,000 after purchasing an additional 109 shares in the last quarter. REAP Financial Group LLC grew its holdings in shares of Ameriprise Financial by 14.3% during the 4th quarter. REAP Financial Group LLC now owns 224 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 28 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Ameriprise Financial by 61.1% during the 4th quarter. CIBC Asset Management Inc now owns 21,992 shares of the financial services provider’s stock worth $10,784,000 after purchasing an additional 8,341 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $442.04 on Thursday. The stock’s fifty 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 current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $39.74 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.05 and a beta of 1.16. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating the consensus estimate of $10.21 by $1.05. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.Ameriprise Financial’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.50 EPS. On average, analysts expect that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. BMO Capital Markets lifted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Piper Sandler lifted their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, Morgan Stanley lifted their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $543.22.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction 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 owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial 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.