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

TD Asset Management Inc cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 9.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 450,909 shares of the financial services provider’s stock after selling 47,341 shares during the quarter. TD Asset Management Inc owned approximately 0.47% of Ameriprise Financial worth $240,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AMP. JPMorgan Chase & Co. increased its stake in shares of Ameriprise Financial by 21.3% in the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after acquiring an additional 1,023,002 shares during the last quarter. Nuveen LLC acquired a new position in shares of Ameriprise Financial in the first quarter worth $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Ameriprise Financial by 55.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after acquiring an additional 796,925 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Ameriprise Financial by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after purchasing an additional 266,631 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Ameriprise Financial by 78.6% in the first quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock worth $202,869,000 after purchasing an additional 189,525 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Ameriprise Financial Stock Up 0.5%

NYSE AMP opened at $482.04 on Tuesday. 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 has a 50-day simple moving average of $499.90 and a 200 day simple moving average of $501.72. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month 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.

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

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 19.91%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AMP shares. Piper Sandler upped their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Raymond James Financial upped their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. Royal Bank Of Canada upped their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Finally, Evercore ISI decreased their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $539.50.

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.