SYSTM Wealth Solutions LLC Sells 627 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

SYSTM Wealth Solutions LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 4.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 14,702 shares of the financial services provider’s stock after selling 627 shares during the period. Ameriprise Financial comprises about 1.4% of SYSTM Wealth Solutions LLC’s holdings, making the stock its 17th biggest position. SYSTM Wealth Solutions LLC’s holdings in Ameriprise Financial were worth $6,280,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Empirical Finance LLC lifted its stake in shares of Ameriprise Financial by 3.0% in the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after buying an additional 113 shares during the period. Nomura Holdings Inc. bought a new position in Ameriprise Financial during the fourth quarter worth about $775,000. State Board of Administration of Florida Retirement System lifted its stake in Ameriprise Financial by 7.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after purchasing an additional 8,693 shares during the period. TD Asset Management Inc lifted its stake in Ameriprise Financial by 151.5% during the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after purchasing an additional 358,780 shares during the period. Finally, BDF Gestion bought a new position in Ameriprise Financial during the second quarter worth about $2,836,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $452.36 on Wednesday. The firm has a market cap of $44.93 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.75 and a beta of 1.35. The company has a 50 day moving average of $429.17 and a 200-day moving average of $427.73. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $453.99.

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

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.31%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AMP shares. Morgan Stanley cut their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Keefe, Bruyette & Woods cut their price target 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 price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group raised 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. Finally, UBS Group dropped their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. One investment 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 currently has an average rating of “Hold” and a consensus target price 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.