Ameriprise Financial, Inc. $AMP Shares Sold by Equitable Trust Co.

Key Points

• Equitable Trust Co. reduced its stake in Ameriprise Financial by 10.8%, holding 9,410 shares worth approximately $5 million after selling 1,138 shares in the second quarter.
• Ameriprise Financial reported $9.11 earnings per share for the latest quarter, surpassing estimates, and has a dividend yield of 1.3% on an annualized dividend of $6.40.
• The stock's current price of $482.04 is below its 50-day and 200-day moving averages, indicating recent downward pressure on the stock price.

Equitable Trust Co. cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,410 shares of the financial services provider's stock after selling 1,138 shares during the quarter. Equitable Trust Co.'s holdings in Ameriprise Financial were worth $5,022,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in AMP. Wealth Preservation Advisors LLC bought a new position in shares of Ameriprise Financial during the first quarter valued at approximately $29,000. TD Capital Management LLC grew its holdings in Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock worth $29,000 after buying an additional 51 shares in the last quarter. WPG Advisers LLC bought a new position in Ameriprise Financial in the 1st quarter worth approximately $33,000. Opal Wealth Advisors LLC bought a new position in Ameriprise Financial during the 1st quarter valued at $36,000. Finally, Hager Investment Management Services LLC boosted its stake in Ameriprise Financial by 114.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 40 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

AMP opened at $482.04 on Tuesday. The stock has a fifty day moving average of $499.90 and a 200-day moving average of $501.72. The firm has a market capitalization of $45.44 billion, a P/E ratio of 15.00, a PEG ratio of 1.08 and a beta of 1.26. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data 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 return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the company earned $8.72 earnings per share. Ameriprise Financial's quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMP shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Royal Bank Of Canada increased their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Evercore ISI decreased their price target on Ameriprise Financial from $587.00 to $570.00 and set an "in-line" rating for the company in a research note on Thursday, October 9th. BMO Capital Markets began coverage on Ameriprise Financial in a research note on Friday, October 3rd. They set a "market perform" rating and a $525.00 price target for the company. Finally, Piper Sandler increased their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and an average price target of $539.50.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on 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 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 currently owned by company insiders.

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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