Ameriprise Financial, Inc. $AMP Shares Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 4.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 493 shares of the financial services provider’s stock after selling 23 shares during the period. Cidel Asset Management Inc.’s holdings in Ameriprise Financial were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. TD Capital Management LLC lifted its holdings in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at about $29,000. Salomon & Ludwin LLC lifted its holdings in shares of Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after buying an additional 30 shares during the period. WPG Advisers LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at about $33,000. Finally, Hager Investment Management Services LLC lifted its holdings in shares of Ameriprise Financial by 114.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

NYSE:AMP opened at $472.65 on Tuesday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The stock has a 50 day moving average of $497.02 and a two-hundred day moving average of $501.96. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm has a market cap of $44.56 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 1.05 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 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 company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the business earned $8.72 EPS. Ameriprise Financial’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal 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 paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s payout ratio is 19.91%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMP. William Blair cut Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. 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 note on Thursday, July 3rd. Morgan Stanley cut their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. 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 note on Wednesday, July 30th. Finally, 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 note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $539.50.

Insider Activity 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 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 directly owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Heather J. Melloh sold 1,500 shares of the company’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 owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% 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 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.