Sei Investments Co. Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Sei Investments Co. lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,393 shares of the financial services provider’s stock after selling 5,281 shares during the period. Sei Investments Co. owned approximately 0.18% of Ameriprise Financial worth $75,353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Ameriprise Financial by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after purchasing an additional 110,319 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after buying an additional 111,973 shares during the period. Envestnet Asset Management Inc. raised 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 valued at $247,786,000 after buying an additional 32,312 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Ameriprise Financial by 1,001.2% during the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after buying an additional 512,884 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Royal Bank of Canada boosted their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods dropped their price objective 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. UBS Group cut their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Piper Sandler decreased their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $464.33.

Insider Buying and Selling

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Stock Down 0.7 %

Shares of NYSE:AMP opened at $460.61 on Friday. The firm has a market capitalization of $45.75 billion, a P/E ratio of 15.68, a P/E/G ratio of 0.75 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a 50 day moving average price of $430.15 and a 200-day moving average price of $428.59. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $465.82.

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

Ameriprise Financial Announces Dividend

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. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.29%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

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.