First Merchants Corp Sells 313 Shares of Ameriprise Financial, Inc. $AMP

First Merchants Corp lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,870 shares of the financial services provider’s stock after selling 313 shares during the period. First Merchants Corp’s holdings in Ameriprise Financial were worth $6,335,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Abel Hall LLC boosted its stake in shares of Ameriprise Financial by 17.8% during the 2nd quarter. Abel Hall LLC now owns 648 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 98 shares in the last quarter. REAP Financial Group LLC boosted its stake in Ameriprise Financial by 203.3% during the 2nd quarter. REAP Financial Group LLC now owns 182 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 122 shares during the period. Shell Asset Management Co. boosted its stake in Ameriprise Financial by 34.1% during the 2nd quarter. Shell Asset Management Co. now owns 4,275 shares of the financial services provider’s stock valued at $2,282,000 after purchasing an additional 1,088 shares during the period. KLP Kapitalforvaltning AS boosted its stake in Ameriprise Financial by 3.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 34,519 shares of the financial services provider’s stock valued at $18,424,000 after purchasing an additional 1,100 shares during the period. Finally, Relyea Zuckerberg Hanson LLC bought a new stake in Ameriprise Financial during the 2nd quarter valued at approximately $291,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on AMP shares. Royal Bank Of Canada increased their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. BMO Capital Markets started coverage on Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 target price for the company. Piper Sandler increased their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Finally, Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $535.14.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $490.09 on Thursday. The stock has a 50 day moving average of $501.37 and a two-hundred day moving average of $502.07. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The company has a market capitalization of $46.20 billion, a P/E ratio of 15.25, a P/E/G ratio of 1.12 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the prior year, the firm posted $8.72 EPS. Ameriprise Financial’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is presently 19.91%.

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.