Sumitomo Mitsui Trust Holdings Inc. Reduces Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 258,150 shares of the financial services provider’s stock after selling 6,395 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of Ameriprise Financial worth $113,183,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at $514,539,000. Dimensional Fund Advisors LP lifted its holdings in Ameriprise Financial by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock worth $385,620,000 after purchasing an additional 35,931 shares in the last quarter. Royal Bank of Canada lifted its holdings in Ameriprise Financial by 2.4% during the 3rd quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after purchasing an additional 20,970 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Ameriprise Financial by 5.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after purchasing an additional 32,312 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Ameriprise Financial by 151.5% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $434.00 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $43.10 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The business’s 50-day moving average price is $429.29 and its 200-day moving average price is $411.59. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $446.32.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating the consensus estimate of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $7.25 EPS. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. Ameriprise Financial’s dividend payout ratio is 20.15%.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent research reports. Raymond James initiated coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. Morgan Stanley increased their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. The Goldman Sachs Group increased their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Argus increased their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $456.22.

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.