Vontobel Holding Ltd. lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 12.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,031 shares of the financial services provider’s stock after selling 1,029 shares during the period. Vontobel Holding Ltd.’s holdings in Ameriprise Financial were worth $3,226,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. State Street Corp increased its holdings in Ameriprise Financial by 0.4% during the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock worth $2,171,360,000 after purchasing an additional 18,879 shares in the last quarter. Norges Bank bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $742,438,000. Boston Partners lifted its holdings in shares of Ameriprise Financial by 1.1% in the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after purchasing an additional 13,172 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after buying an additional 496,319 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Ameriprise Financial by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock valued at $455,387,000 after buying an additional 19,731 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.
Ameriprise Financial Stock Down 0.1%
AMP stock opened at $570.06 on Friday. The stock’s fifty day simple moving average is $507.03 and its two-hundred day simple moving average is $480.30. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. The stock has a market cap of $51.25 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.77 and a beta of 1.14.
Ameriprise Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be given a dividend of $1.70 per share. The ex-dividend date is Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio is presently 16.40%.
Analysts Set New Price Targets
Several equities analysts have weighed in on AMP shares. Morgan Stanley raised their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Piper Sandler boosted their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.
Get Our Latest Research Report on Ameriprise Financial
Insider Activity at Ameriprise Financial
In related news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the sale, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the sale, the senior vice president directly owned 713 shares in the company, valued at approximately $398,517.09. This represents a 39.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,988 shares of company stock worth $16,316,497 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.
Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.
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