TD Asset Management Inc Has $240.66 Million Stake in Ameriprise Financial, Inc. $AMP

TD Asset Management Inc decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 450,909 shares of the financial services provider’s stock after selling 47,341 shares during the period. TD Asset Management Inc’s holdings in Ameriprise Financial were worth $240,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AMP. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial during the first quarter worth approximately $29,000. TD Capital Management LLC increased its holdings in shares of Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after buying an additional 51 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Ameriprise Financial during the first quarter worth approximately $33,000. Opal Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the first quarter worth approximately $36,000. Finally, Hager Investment Management Services LLC increased its holdings in shares of Ameriprise Financial by 114.3% during the second quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock worth $40,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMP. BMO Capital Markets began coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target on the stock. Piper Sandler increased their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Raymond James Financial increased their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Finally, Royal Bank Of Canada increased their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $539.50.

Insiders Place Their Bets

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $482.04 on Tuesday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The stock has a market cap of $45.44 billion, a PE ratio of 15.00, a PEG ratio of 1.08 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The firm’s 50 day moving average price is $499.90 and its two-hundred day moving average price is $501.72.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the firm earned $8.72 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.91%.

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.