Ameriprise Financial, Inc. $AMP Shares Sold by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC has reduced its stake in Ameriprise Financial by 3.4%, now holding 25,963 shares worth approximately $13.86 million.
• Ameriprise Financial's recent quarterly earnings included an EPS of $9.11, surpassing analyst expectations, with a revenue of $4.49 billion.
• The company recently announced a quarterly dividend of $1.60 per share, reflecting an annualized dividend yield of 1.4% and a payout ratio of 19.91%.

Mutual of America Capital Management LLC lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,963 shares of the financial services provider's stock after selling 926 shares during the quarter. Mutual of America Capital Management LLC's holdings in Ameriprise Financial were worth $13,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMP. GAMMA Investing LLC grew its stake in shares of Ameriprise Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock worth $2,114,000 after purchasing an additional 83 shares during the last quarter. NorthRock Partners LLC grew its position in Ameriprise Financial by 8.9% in the second quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider's stock worth $5,847,000 after buying an additional 897 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Ameriprise Financial by 91.6% in the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock valued at $692,000 after buying an additional 683 shares in the last quarter. Ascent Group LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter valued at $371,000. Finally, Advisory Alpha LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter valued at $265,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

Shares of AMP opened at $470.03 on Friday. The business's 50-day moving average is $497.70 and its 200-day moving average is $501.28. 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 company has a market capitalization of $44.31 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 1.05 and a beta of 1.26. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $4.33 billion. During the same period in the previous year, the firm posted $8.72 earnings per share. The firm's revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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 1.4%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is currently 19.91%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AMP shares. Piper Sandler boosted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Morgan Stanley cut their price objective on Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating on the stock in a report on Wednesday, October 1st. Raymond James Financial raised 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. Evercore ISI dropped their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an "in-line" rating on the stock in a research report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. One equities research 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 given a Sell rating to the company's stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus price target of $539.50.

Insiders Place Their Bets

In other news, 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 sale, the chief executive officer directly owned 11,047 shares of the company's stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

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.

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