Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 12.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,423 shares of the financial services provider’s stock after selling 926 shares during the period. Intech Investment Management LLC’s holdings in Ameriprise Financial were worth $2,744,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Empirical Finance LLC raised its position in shares of Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after buying an additional 113 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $775,000. State Board of Administration of Florida Retirement System increased its position in Ameriprise Financial by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after purchasing an additional 8,693 shares in the last quarter. TD Asset Management Inc raised its holdings in Ameriprise Financial by 151.5% in the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after buying an additional 358,780 shares during the period. Finally, BDF Gestion acquired a new position in Ameriprise Financial during the second quarter valued at approximately $2,836,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMP. Piper Sandler dropped their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Morgan Stanley reduced their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Royal Bank of Canada raised their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Finally, UBS Group decreased their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $464.33.

Insider Transactions at Ameriprise Financial

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

Ameriprise Financial Stock Down 0.7 %

AMP stock opened at $460.61 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a 50 day simple moving average of $430.15 and a 200-day simple moving average of $428.68. The company has a market capitalization of $45.75 billion, a P/E ratio of 15.68, a PEG ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $465.82.

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

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

About Ameriprise Financial

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.