Garrison Asset Management LLC Lowers Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Garrison Asset Management LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 546 shares of the financial services provider’s stock after selling 25 shares during the quarter. Garrison Asset Management LLC’s holdings in Ameriprise Financial were worth $233,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AMP. JPMorgan Chase & Co. raised its stake in Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares during the period. Norges Bank purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $514,539,000. TD Asset Management Inc boosted its holdings in 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 acquiring an additional 111,973 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Ameriprise Financial by 5.2% during 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 acquiring an additional 32,312 shares during the period. Finally, First Trust Advisors LP increased its stake in Ameriprise Financial by 1,001.2% during the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after acquiring an additional 512,884 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $440.39 on Friday. The firm has a 50-day moving average of $428.44 and a two-hundred day moving average of $427.05. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $43.24 billion, a P/E ratio of 14.99, a PEG ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $450.35.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the business posted $7.44 earnings per share. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, research analysts expect that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.34%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Keefe, Bruyette & Woods decreased their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Piper Sandler cut their target price 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. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley cut their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $464.33.

Ameriprise Financial 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.