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

Royal London Asset Management Ltd. cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% during the second quarter, HoldingsChannel.com reports. The firm owned 40,045 shares of the financial services provider’s stock after selling 1,044 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Ameriprise Financial were worth $18,371,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. SouthState Bank Corp raised its stake in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares during the last quarter. Twin Lakes Capital Management LLC bought a new position in Ameriprise Financial in the second quarter valued at approximately $25,000. Cassaday & Co Wealth Management LLC bought a new position in Ameriprise Financial in the first quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Ameriprise Financial during the 2nd quarter worth $28,000. Finally, Fiduciary Financial Advisors acquired a new stake in Ameriprise Financial during the 2nd quarter worth $30,000. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ameriprise Financial Trading Up 0.1%

Shares of NYSE AMP opened at $559.79 on Monday. The company’s fifty day moving average is $526.87 and its 200-day moving average is $482.40. The stock has a market cap of $50.33 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.

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

Ameriprise Financial Dividend Announcement

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

Insiders Place Their Bets

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

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.