Toronto Dominion Bank Buys 15,974 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Toronto Dominion Bank raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 25.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 78,933 shares of the financial services provider’s stock after acquiring an additional 15,974 shares during the period. Toronto Dominion Bank owned approximately 0.08% of Ameriprise Financial worth $34,607,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AMP. Retirement Group LLC bought a new position in Ameriprise Financial during the 1st quarter valued at about $25,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the 1st quarter worth approximately $28,000. Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial in the 1st quarter worth approximately $32,000. Annapolis Financial Services LLC lifted its stake in shares of Ameriprise Financial by 928.6% in the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 65 shares during the period. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $34,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP traded down $2.02 during trading on Friday, reaching $439.65. 530,890 shares of the company traded hands, compared to its average volume of 489,607. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $449.94. The firm has a fifty day simple moving average of $431.95 and a 200 day simple moving average of $417.66. The company has a market cap of $43.67 billion, a P/E ratio of 14.96, a PEG ratio of 0.67 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 75.96%. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the firm posted $7.44 earnings per share. Ameriprise Financial’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 34.9 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.35%. The ex-dividend date is Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMP shares. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler lowered their price objective 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. Evercore ISI increased their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. UBS Group reduced their target price 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. Finally, Morgan Stanley increased their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $462.89.

About Ameriprise Financial

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.