Ameritas Investment Partners Inc. Trims Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Ameritas Investment Partners Inc. cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,084 shares of the financial services provider’s stock after selling 41 shares during the period. Ameritas Investment Partners Inc.’s holdings in Ameriprise Financial were worth $475,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after acquiring an additional 603,267 shares during the last quarter. Norges Bank purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $514,539,000. Dimensional Fund Advisors LP raised its holdings in shares of Ameriprise Financial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock valued at $385,620,000 after buying an additional 35,931 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after buying an additional 111,973 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Ameriprise Financial by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock valued at $247,786,000 after buying an additional 32,312 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of AMP stock traded up $6.52 during trading hours on Wednesday, hitting $427.91. The company’s stock had a trading volume of 596,379 shares, compared to its average volume of 484,418. The business has a fifty day moving average of $432.03 and a 200-day moving average of $417.06. The stock has a market cap of $42.50 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 0.66 and a beta of 1.37. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $449.94. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.25 earnings per share. As a group, equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.91 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $460.00 to $470.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Piper Sandler dropped their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Finally, Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $462.89.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.