MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,672 shares of the financial services provider’s stock after selling 198 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Ameriprise Financial were worth $786,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after acquiring an additional 603,267 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after purchasing an additional 110,319 shares during the period. Legal & General Group Plc increased its holdings in shares of Ameriprise Financial by 1.4% in the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after purchasing an additional 11,060 shares during the period. TD Asset Management Inc raised its position in shares of Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after buying an additional 111,973 shares in the last quarter. Finally, AGF Management Ltd. raised its position in shares of Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after buying an additional 131,844 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AMP shares. Morgan Stanley cut their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Piper Sandler lowered their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research note on Friday. Finally, The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $473.56.

Ameriprise Financial Stock Performance

AMP opened at $504.53 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $50.11 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.81 and a beta of 1.35. The company has a fifty day moving average of $448.00 and a 200 day moving average of $434.91. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $504.82.

Ameriprise Financial (NYSE:AMP) last posted its earnings results 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. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the company earned $7.44 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 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.