XTX Topco Ltd Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

XTX Topco Ltd cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 32.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 858 shares of the financial services provider’s stock after selling 416 shares during the period. XTX Topco Ltd’s holdings in Ameriprise Financial were worth $367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMP. JPMorgan Chase & Co. increased its position in shares of Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. First Trust Advisors LP increased its holdings in Ameriprise Financial by 1,001.2% in the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after buying an additional 512,884 shares during the last quarter. Swedbank AB acquired a new stake in Ameriprise Financial in the first quarter valued at $108,938,000. Epoch Investment Partners Inc. lifted its holdings in Ameriprise Financial by 104.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock worth $145,183,000 after buying an additional 195,475 shares during the last quarter. Finally, AGF Management Ltd. boosted its position in shares of Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after acquiring an additional 131,844 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 1.0 %

NYSE AMP opened at $467.51 on Friday. The firm’s fifty day moving average is $431.99 and its two-hundred day moving average is $429.63. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $469.39. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $45.90 billion, a PE ratio of 15.75, a P/E/G ratio of 0.80 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the firm posted $7.44 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analyst Ratings Changes

Several research firms recently weighed in on AMP. UBS Group decreased their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods reduced their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Piper Sandler dropped their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Morgan Stanley reduced their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Finally, Jefferies Financial Group raised their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $463.00.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by insiders.

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.