Transamerica Financial Advisors LLC Sells 1,230 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Transamerica Financial Advisors LLC significantly reduced its stake in Ameriprise Financial, Inc. by 94.9%, selling 1,230 shares, leaving them with only 66 shares valued at $32,000.
• Ameriprise Financial recently announced a quarterly dividend of $1.60 per share, resulting in an annualized dividend of $6.40 and a dividend yield of 1.2%.
• Multiple analysts have varying ratings on Ameriprise Financial, with a consensus "Hold" rating and a consensus price target of $534.71.

Transamerica Financial Advisors LLC lowered its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 94.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 66 shares of the financial services provider's stock after selling 1,230 shares during the quarter. Transamerica Financial Advisors LLC's holdings in Ameriprise Financial were worth $32,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Forum Financial Management LP grew its holdings in Ameriprise Financial by 1.4% during the 4th quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock valued at $790,000 after buying an additional 21 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in Ameriprise Financial by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock valued at $665,000 after buying an additional 21 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its holdings in Ameriprise Financial by 3.0% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider's stock valued at $345,000 after buying an additional 21 shares in the last quarter. Argent Trust Co grew its holdings in Ameriprise Financial by 1.3% during the 1st quarter. Argent Trust Co now owns 1,698 shares of the financial services provider's stock valued at $822,000 after buying an additional 21 shares in the last quarter. Finally, Ritholtz Wealth Management grew its holdings in Ameriprise Financial by 1.3% during the 1st quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider's stock valued at $852,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

NYSE:AMP traded down $2.95 during mid-day trading on Wednesday, reaching $509.88. The stock had a trading volume of 64,364 shares, compared to its average volume of 497,277. The firm has a 50 day moving average price of $521.61 and a two-hundred day moving average price of $505.02. The stock has a market capitalization of $48.07 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.10 and a beta of 1.27. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

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

Ameriprise Financial Announces Dividend

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

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AMP. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler lifted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Raymond James Financial lifted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their price target for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada lifted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $534.71.

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.