Point72 Asia Singapore Pte. Ltd. Cuts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Point72 Asia Singapore Pte. Ltd. trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 91.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 334 shares of the financial services provider’s stock after selling 3,671 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Ameriprise Financial were worth $143,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AMP. Insigneo Advisory Services LLC increased its position in shares of Ameriprise Financial by 6.3% during the second quarter. Insigneo Advisory Services LLC now owns 1,904 shares of the financial services provider’s stock worth $746,000 after purchasing an additional 113 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Ameriprise Financial by 58.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 19,190 shares of the financial services provider’s stock worth $8,198,000 after purchasing an additional 7,107 shares during the last quarter. Gateway Advisory LLC grew its holdings in shares of Ameriprise Financial by 1.9% during the second quarter. Gateway Advisory LLC now owns 2,059 shares of the financial services provider’s stock worth $880,000 after buying an additional 38 shares in the last quarter. Bank of Montreal Can raised its position in shares of Ameriprise Financial by 1.6% in the second quarter. Bank of Montreal Can now owns 320,827 shares of the financial services provider’s stock valued at $141,405,000 after buying an additional 4,968 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Ameriprise Financial in the second quarter worth about $9,398,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

AMP opened at $468.62 on Friday. The firm has a market cap of $46.01 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 0.80 and a beta of 1.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock’s 50-day moving average price is $432.98 and its 200 day moving average price is $429.89. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $471.57.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the firm posted $7.44 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is currently 20.15%.

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 dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on AMP. UBS Group cut their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Jefferies Financial Group increased their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Piper Sandler lowered their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Morgan Stanley cut their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Finally, Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $463.00.

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.