Toronto Dominion Bank Sells 27,123 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Toronto Dominion Bank lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 34.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,810 shares of the financial services provider’s stock after selling 27,123 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of Ameriprise Financial worth $22,133,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Insigneo Advisory Services LLC raised its stake in shares of Ameriprise Financial by 6.3% in the second quarter. Insigneo Advisory Services LLC now owns 1,904 shares of the financial services provider’s stock valued at $746,000 after acquiring an additional 113 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings 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 valued at $8,198,000 after purchasing an additional 7,107 shares in the last quarter. Gateway Advisory LLC raised its position in Ameriprise Financial by 1.9% in the 2nd quarter. Gateway Advisory LLC now owns 2,059 shares of the financial services provider’s stock valued at $880,000 after purchasing an additional 38 shares during the last quarter. Bank of Montreal Can boosted its stake in 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 worth $141,405,000 after purchasing an additional 4,968 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Ameriprise Financial during the second quarter worth $9,398,000. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on AMP. Jefferies Financial Group lifted 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. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Piper Sandler decreased their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $485.00 to $476.00 in a research report on Thursday. Finally, Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $463.00.

Insider Activity

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred 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 transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $467.51 on Friday. The firm’s 50 day moving average price is $431.99 and its two-hundred day moving average price is $429.63. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $469.39. The stock has a market cap of $45.90 billion, a PE ratio of 15.91, a PEG ratio of 0.80 and a beta of 1.35.

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

Ameriprise Financial Announces Dividend

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

Ameriprise Financial Company 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.