Mn Services Vermogensbeheer B.V. Sells 1,200 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Mn Services Vermogensbeheer B.V. decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 39,754 shares of the financial services provider’s stock after selling 1,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Ameriprise Financial were worth $16,983,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMP. Portside Wealth Group LLC grew its holdings in Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 25 shares during the period. Signaturefd LLC grew its stake in shares of Ameriprise Financial by 1.1% in the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock valued at $1,007,000 after buying an additional 26 shares during the period. Aua Capital Management LLC increased its position in Ameriprise Financial by 4.7% in the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after buying an additional 27 shares in the last quarter. Gratus Wealth Advisors LLC raised its stake in Ameriprise Financial by 1.5% during the 1st quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock worth $779,000 after buying an additional 27 shares during the period. Finally, Resonant Capital Advisors LLC boosted its holdings in Ameriprise Financial by 4.7% in the first quarter. Resonant Capital Advisors LLC now owns 619 shares of the financial services provider’s stock worth $271,000 after acquiring an additional 28 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP traded up $5.98 during trading on Friday, reaching $439.68. The company’s stock had a trading volume of 240,690 shares, compared to its average volume of 485,574. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $449.94. The firm has a market cap of $43.67 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The firm has a 50 day moving average of $426.90 and a 200-day moving average of $422.69. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm earned $7.44 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Research analysts expect that Ameriprise Financial, Inc. will post 34.77 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.35%. Ameriprise Financial’s payout ratio is currently 20.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Argus boosted their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. Keefe, Bruyette & Woods dropped their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Jefferies Financial Group lifted their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. UBS Group lowered their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Piper Sandler dropped their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. One investment 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $464.33.

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.