Transamerica Financial Advisors LLC Has $32,000 Holdings in 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 lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 94.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AMP. University of Texas Texas AM Investment Management Co. acquired a new stake in Ameriprise Financial in the fourth quarter valued at $26,000. Sunbeam Capital Management LLC bought a new position in Ameriprise Financial in the 4th quarter valued at about $31,000. Opal Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 1st quarter valued at about $36,000. Quarry LP increased its stake in shares of Ameriprise Financial by 148.6% during the 4th quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after purchasing an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC raised its position 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 buying an additional 49 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock traded down $1.17 during trading on Friday, hitting $515.46. The stock had a trading volume of 418,838 shares, compared to its average volume of 382,908. The stock has a market cap of $48.59 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.10 and a beta of 1.27. The stock's 50 day moving average is $521.88 and its two-hundred day moving average is $505.19. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year 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, beating analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. During the same period last year, the firm earned $8.72 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders 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 dividend yield of 1.2%. Ameriprise Financial's dividend payout ratio is 19.91%.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Raymond James Financial lifted their price target 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. Morgan Stanley cut shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their target price for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Finally, Piper Sandler lifted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. One 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $534.71.

Ameriprise Financial 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.