Voya Investment Management LLC Has $35.24 Million Position in Ameriprise Financial, Inc. $AMP

Voya Investment Management LLC cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 33.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,733 shares of the financial services provider’s stock after selling 36,149 shares during the quarter. Voya Investment Management LLC owned approximately 0.08% of Ameriprise Financial worth $35,239,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. Whipplewood Advisors LLC increased its position in shares of Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares in the last quarter. Salomon & Ludwin LLC grew its stake in Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares during the last quarter. TD Capital Management LLC grew its stake in Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after buying an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial during the first quarter worth approximately $29,000. Finally, Winnow Wealth LLC bought a new position in shares of Ameriprise Financial in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director owned 7,500 shares in the company, valued at $3,382,050. The trade was a 16.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMP. Evercore ISI decreased their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Argus reduced their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. BMO Capital Markets initiated coverage on Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 target price on the stock. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $533.22.

Ameriprise Financial Stock Up 0.4%

Shares of AMP opened at $489.53 on Friday. The business’s fifty day moving average price is $468.40 and its two-hundred day moving average price is $496.44. The firm has a market capitalization of $45.48 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.31 and a beta of 1.26. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.68 and a current ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.76 by $0.16. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.02 earnings per share. On average, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were given a dividend of $1.60 per share. The ex-dividend date was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is presently 17.55%.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.