Commonwealth Equity Services LLC Reduces Stock Holdings in Ameriprise Financial, Inc. (NYSE: AMP)


Commonwealth Equity Services LLC reduced its holdings of Ameriprise Financial, Inc. (NYSE: AMP – Get Rating) stock by 0.9% in Q1, according to its most recent Form 13F filed with the Securities and Exchange Commission. The institutional investor held 24,928 shares of the financial services provider after selling 219 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Ameriprise Financial were worth $7,487,000 at the end of the last quarter.

Other hedge funds and other institutional investors have also recently changed their holdings in the company. Mutual of America Capital Management LLC increased its holdings of Ameriprise Financial shares by 1.5% in the first quarter. Mutual of America Capital Management LLC now owns 31,575 shares of the financial services provider worth $9,484,000 after buying 464 additional shares last quarter. Jones Financial Companies Lllp increased its stake in Ameriprise Financial by 51.4% in the first quarter. Jones Financial Companies Lllp now owns 209 shares of the financial services provider worth $63,000 after buying 71 additional shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Ameriprise Financial in the fourth quarter for a value of approximately $7,156,000. New Jersey State Joint Pension Fund D increased its stake in Ameriprise Financial by 3.8% in the first quarter. New Jersey State Joint Pension Fund D now owns 65,502 shares of the financial services provider worth $19,674,000 after buying 2,397 additional shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Ameriprise Financial by 14.4% in the fourth quarter. Teacher Retirement System of Texas now owns 53,284 shares of the financial services provider worth $16,074,000 after buying an additional 6,722 shares in the last quarter. Hedge funds and other institutional investors own 82.69% of the company’s shares.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial opened at $266.56 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.90 and a leverage ratio of 1.14. The company has a market capitalization of $29.29 billion, a PE ratio of 9.60 and a beta of 1.50. The company has a 50-day moving average of $249.53 and a 200-day moving average of $276.07. Ameriprise Financial, Inc. has a 52-week low of $219.99 and a 52-week high of $332.37.

Ameriprise Financial (NYSE:AMP – Get Rating) last announced its results on Tuesday, July 26. The financial services provider reported EPS of $5.81 for the quarter, missing analyst consensus estimates of $5.82 per ($0.01). Ameriprise Financial had a net margin of 23.49% and a return on equity of 53.86%. During the same period a year earlier, the company posted EPS of $5.27. As a group, equity research analysts expect Ameriprise Financial, Inc. to post earnings per share of 24.73 for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 19. Shareholders of record on Monday August 8 will receive a dividend of $1.25. The ex-dividend date is Friday August 5th. This represents a dividend of $5.00 on an annualized basis and a yield of 1.88%. Ameriprise Financial’s dividend payout ratio (DPR) is 18.01%.

A Wall Street analyst gives his opinion

Several analysts have published reports on the company. Evercore ISI reduced its target price on Ameriprise Financial from $364.00 to $320.00 and set an “outperform” rating for the company in a Wednesday July 6 research note. William Blair reaffirmed an “outperform” rating on Ameriprise Financial shares in a Tuesday, April 26 research note. Piper Sandler lowered her price target on Ameriprise Financial from $231.00 to $220.00 and set an “underweight” rating for the company in a Friday, July 15 research report. Jefferies Financial Group raised its price target on Ameriprise Financial from $325.00 to $350.00 and gave the company a “buy” rating in a Monday, April 4 research report. Finally, Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered its price target for the company from $325.00 to $270.00 in a Friday research report. June 24. One investment analyst gave the stock a sell rating, three gave the company a hold rating and seven gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $311.78.

Ameriprise Financial Profile

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Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and abroad. It operates through four segments: Advisory and Wealth Management, Asset Management, Retirement and Protection Solutions, and Business and Others.

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Want to see which other hedge funds hold AMPs? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Ameriprise Financial, Inc. (NYSE: AMP – Get Rating).

Institutional ownership by quarter for Ameriprise Financial (NYSE:AMP)



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