Versor Investments LP Sells 2,404 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Versor Investments LP lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 80.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 596 shares of the financial services provider’s stock after selling 2,404 shares during the quarter. Versor Investments LP’s holdings in Ameriprise Financial were worth $255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMP. Empirical Finance LLC lifted its holdings in shares of Ameriprise Financial by 3.0% during the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after purchasing an additional 113 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Ameriprise Financial by 0.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock valued at $5,166,000 after buying an additional 73 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Ameriprise Financial by 3.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock worth $42,238,000 after acquiring an additional 4,203 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $775,000. Finally, State Board of Administration of Florida Retirement System lifted its position in Ameriprise Financial by 7.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after acquiring an additional 8,693 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Piper Sandler decreased their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Royal Bank of Canada boosted their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. UBS Group reduced their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Trading Down 2.1 %

NYSE AMP opened at $430.41 on Friday. The company has a market cap of $42.75 billion, a PE ratio of 14.65, a PEG ratio of 0.78 and a beta of 1.35. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $450.35. The stock has a 50 day moving average of $428.01 and a 200-day moving average of $425.74. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $7.44 EPS. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.38%. Ameriprise Financial’s dividend payout ratio is 20.15%.

Ameriprise Financial 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.