Gateway Investment Advisers LLC Sells 27 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Gateway Investment Advisers LLC trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,113 shares of the financial services provider’s stock after selling 27 shares during the period. Gateway Investment Advisers LLC’s holdings in Ameriprise Financial were worth $993,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMP. JPMorgan Chase & Co. lifted its stake in shares of Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. Swedbank AB bought a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $108,938,000. Maj Invest Holding A S bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $98,742,000. AGF Management Ltd. lifted its stake in shares of Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after acquiring an additional 131,844 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of Ameriprise Financial by 18.8% during the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after acquiring an additional 111,973 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Activity

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial 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 transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 2.3 %

AMP opened at $502.50 on Monday. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $502.97. The stock’s fifty day moving average is $445.74 and its two-hundred day moving average is $434.44. The company has a market capitalization of $49.34 billion, a P/E ratio of 17.21, a PEG ratio of 0.81 and a beta of 1.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the business posted $7.44 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. Analysts forecast that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.18%. Ameriprise Financial’s dividend payout ratio is presently 20.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AMP shares. Morgan Stanley decreased their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Piper Sandler decreased their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Finally, Royal Bank of Canada raised their price target on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $473.56.

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.