Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 15.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 462,464 shares of the financial services provider’s stock after selling 83,320 shares during the quarter. Thrivent Financial for Lutherans owned about 0.47% of Ameriprise Financial worth $197,560,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its position in Ameriprise Financial by 70.6% during the 2nd quarter. Pacer Advisors Inc. now owns 14,287 shares of the financial services provider’s stock worth $6,103,000 after acquiring an additional 5,914 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in Ameriprise Financial by 0.5% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 20,095 shares of the financial services provider’s stock worth $8,584,000 after acquiring an additional 101 shares during the period. AE Wealth Management LLC lifted its holdings in shares of Ameriprise Financial by 28.6% in the second quarter. AE Wealth Management LLC now owns 2,042 shares of the financial services provider’s stock valued at $872,000 after buying an additional 454 shares during the period. Bridges Investment Management Inc. lifted its holdings in shares of Ameriprise Financial by 195.5% in the second quarter. Bridges Investment Management Inc. now owns 9,026 shares of the financial services provider’s stock valued at $3,856,000 after buying an additional 5,971 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Ameriprise Financial by 18.6% in the second quarter. Canada Pension Plan Investment Board now owns 228,228 shares of the financial services provider’s stock valued at $97,497,000 after buying an additional 35,868 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.7 %

NYSE:AMP opened at $460.61 on Friday. The firm has a market capitalization of $45.75 billion, a price-to-earnings ratio of 15.68, 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 $465.82. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The business’s fifty day moving average price is $430.15 and its 200 day moving average price is $428.48.

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

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.29%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Insider Activity at Ameriprise Financial

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMP. Morgan Stanley cut their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Piper Sandler cut their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Keefe, Bruyette & Woods reduced their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Finally, Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. 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 stock currently has a consensus 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.