TCW Group Inc. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 19.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 209,823 shares of the financial services provider's stock after selling 51,358 shares during the quarter. TCW Group Inc. owned about 0.19% of Ameriprise Financial worth $49,871,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $337,466,000. Marshall Wace LLP grew its holdings in Ameriprise Financial by 917.0% in the fourth quarter. Marshall Wace LLP now owns 679,926 shares of the financial services provider's stock valued at $205,102,000 after purchasing an additional 613,070 shares during the period. Vanguard Group Inc. increased its position in shares of Ameriprise Financial by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,681,421 shares of the financial services provider's stock valued at $4,109,352,000 after buying an additional 302,243 shares in the last quarter. Invesco Ltd. raised its stake in shares of Ameriprise Financial by 33.5% during the 1st quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider's stock worth $324,031,000 after buying an additional 270,755 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Ameriprise Financial by 48.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 763,424 shares of the financial services provider's stock valued at $229,303,000 after buying an additional 249,192 shares in the last quarter. Hedge funds and other institutional investors own 82.92% of the company's stock.
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Insider Transactions at Ameriprise Financial
In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $277.01, for a total transaction of $277,010.00. Following the transaction, the director now owns 16,500 shares of the company's stock, valued at approximately $4,570,665. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on AMP. Bank of America started coverage on Ameriprise Financial in a research note on Wednesday, September 7th. They set a "buy" rating and a $336.00 price objective for the company. Piper Sandler decreased their price objective on Ameriprise Financial from $231.00 to $220.00 and set an "underweight" rating on the stock in a report on Friday, July 15th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $270.00 to $295.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 17th. Evercore ISI lowered their price target on shares of Ameriprise Financial from $364.00 to $320.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 6th. Finally, The Goldman Sachs Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $325.00 to $270.00 in a research note on Friday, June 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of "Moderate Buy" and a consensus target price of $316.70.
Ameriprise Financial Trading Up 2.1 %
Shares of NYSE AMP traded up $5.23 during mid-day trading on Wednesday, reaching $257.75. 3,078 shares of the company's stock were exchanged, compared to its average volume of 489,408. The company's 50-day moving average is $270.96 and its 200-day moving average is $269.32. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $27.88 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 0.76 and a beta of 1.48. Ameriprise Financial, Inc. has a 52-week low of $219.99 and a 52-week high of $332.37.
Ameriprise Financial (NYSE:AMP – Get Rating) last announced its earnings results on Tuesday, July 26th. The financial services provider reported $5.81 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.08. The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.51 billion. Ameriprise Financial had a net margin of 23.49% and a return on equity of 53.86%. During the same quarter last year, the firm posted $5.27 earnings per share. Analysts expect that Ameriprise Financial, Inc. will post 23.97 EPS for the current fiscal year.
Ameriprise Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Friday, August 5th. Ameriprise Financial's dividend payout ratio (DPR) is 18.01%.
Ameriprise Financial Profile
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Ameriprise Financial, Inc, through 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.
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