Truist Financial Corp Has $73.97 Million Holdings in Ameriprise Financial, Inc. $AMP

Truist Financial Corp lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,591 shares of the financial services provider’s stock after selling 12,151 shares during the quarter. Truist Financial Corp owned 0.15% of Ameriprise Financial worth $73,970,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $29,000. TD Capital Management LLC raised its holdings in shares of Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 51 shares during the period. WPG Advisers LLC acquired a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $33,000. Opal Wealth Advisors LLC purchased a new position in Ameriprise Financial during the first quarter valued at approximately $36,000. Finally, TCTC Holdings LLC grew its position in Ameriprise Financial by 100.0% during the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

AMP stock opened at $487.04 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $45.91 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 1.05 and a beta of 1.26. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The firm has a 50 day moving average of $504.05 and a two-hundred day moving average of $502.09.

Ameriprise Financial (NYSE:AMP) last posted its earnings results 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. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.72 earnings per share. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s payout ratio is currently 19.91%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AMP shares. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods boosted their price objective 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. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Raymond James Financial boosted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. Finally, Morgan Stanley lowered their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $536.83.

Insider Activity at Ameriprise Financial

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 shares were 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 of the company’s stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $512.34, for a total transaction 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 $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

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.