Ameriprise Financial, Inc. $AMP is Alley Investment Management Company LLC's 4th Largest Position

Key Points

• Alley Investment Management Company LLC has reduced its stake in Ameriprise Financial by 5.7%, now holding 53,239 shares, which represents 3.4% of its portfolio.
• Ameriprise Financial reported a quarterly EPS of $9.11, surpassing estimates and showing a 2.2% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $1.60 per share, yielding 1.3%, with a payout ratio of 19.91%.

Alley Investment Management Company LLC decreased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,239 shares of the financial services provider's stock after selling 3,235 shares during the period. Ameriprise Financial makes up about 3.4% of Alley Investment Management Company LLC's portfolio, making the stock its 4th biggest holding. Alley Investment Management Company LLC owned about 0.06% of Ameriprise Financial worth $28,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TD Capital Management LLC increased its stake in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock worth $29,000 after acquiring an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter worth $29,000. WPG Advisers LLC acquired a new stake in shares of Ameriprise Financial in the first quarter worth $33,000. Opal Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter worth $36,000. Finally, TCTC Holdings LLC increased its stake in shares of Ameriprise Financial by 100.0% in the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

AMP opened at $490.50 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market cap of $46.24 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.06 and a beta of 1.27. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The firm's fifty day simple moving average is $505.04 and its two-hundred day simple moving average is $502.19.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company's revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $8.72 earnings per share. Equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is currently 19.91%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMP. Raymond James Financial increased their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. Royal Bank Of Canada increased their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Morgan Stanley downgraded shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their price target for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Piper Sandler increased their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $544.50.

Insider Activity

In other news, EVP Heather J. Melloh sold 1,500 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

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.

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