Voya Investment Management LLC Has $53.73 Million Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Voya Investment Management LLC increased its stake in Ameriprise Financial by 4.0%, now owning 110,989 shares valued at approximately $53.7 million.
• CEO William F. Truscott and EVP Heather J. Melloh sold significant quantities of stock, reducing their positions by 47.34% and 36.93% respectively.
• Ameriprise Financial reported $9.11 earnings per share for the last quarter, exceeding estimates, with a return on equity of 65.90% and a year-over-year revenue increase of 2.2%.

Voya Investment Management LLC grew its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,989 shares of the financial services provider's stock after buying an additional 4,232 shares during the quarter. Voya Investment Management LLC owned 0.12% of Ameriprise Financial worth $53,731,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. Brighton Jones LLC boosted its holdings in shares of Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after buying an additional 50 shares during the period. Gotham Asset Management LLC boosted its holdings in shares of Ameriprise Financial by 10.6% in the fourth quarter. Gotham Asset Management LLC now owns 1,884 shares of the financial services provider's stock valued at $1,003,000 after buying an additional 180 shares during the period. Group One Trading LLC boosted its holdings in shares of Ameriprise Financial by 178.0% in the fourth quarter. Group One Trading LLC now owns 278 shares of the financial services provider's stock valued at $148,000 after buying an additional 178 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Ameriprise Financial by 4.6% in the fourth quarter. Janus Henderson Group PLC now owns 12,054 shares of the financial services provider's stock valued at $6,421,000 after buying an additional 530 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ameriprise Financial by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,601 shares of the financial services provider's stock valued at $5,644,000 after buying an additional 581 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMP. William Blair cut shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Piper Sandler increased their target price 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. Royal Bank Of Canada increased their target price 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. Raymond James Financial increased their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a report on Friday, July 25th. Finally, Morgan Stanley cut shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their target price for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $534.71.

Insider Activity

In other news, EVP Heather J. Melloh sold 1,500 shares of the 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 $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The shares were 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 $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

NYSE AMP traded down $10.09 on Monday, hitting $486.99. 632,810 shares of the stock were exchanged, compared to its average volume of 395,241. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The business's fifty day moving average is $514.75 and its 200 day moving average is $502.38. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The company has a market capitalization of $45.91 billion, a PE ratio of 15.15, a P/E/G ratio of 1.06 and a beta of 1.27.

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

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio is 19.91%.

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.