Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 8.8% in the 4th quarter, HoldingsChannel reports. The fund owned 616,938 shares of the financial services provider’s stock after selling 59,356 shares during the period. TD Asset Management Inc.’s holdings in Ameriprise Financial were worth $328,476,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AMP. Howard Capital Management Group LLC boosted its stake in Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after buying an additional 178 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Ameriprise Financial by 11.1% in the third quarter. Advisors Asset Management Inc. now owns 1,888 shares of the financial services provider’s stock worth $887,000 after acquiring an additional 188 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in Ameriprise Financial in the third quarter valued at approximately $208,000. Eagle Asset Management Inc. increased its position in Ameriprise Financial by 2.8% during the third quarter. Eagle Asset Management Inc. now owns 10,224 shares of the financial services provider’s stock worth $4,803,000 after purchasing an additional 278 shares during the last quarter. Finally, Great Valley Advisor Group Inc. raised its stake in Ameriprise Financial by 2.5% during the third quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP opened at $508.82 on Tuesday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The firm has a market cap of $48.91 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.15 and a beta of 1.33. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a fifty day simple moving average of $527.84 and a 200 day simple moving average of $521.83.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMP. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Morgan Stanley raised their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $514.89.

Ameriprise Financial Company 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.