Invst LLC Sells 75 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Invst LLC lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,071 shares of the financial services provider’s stock after selling 75 shares during the period. Invst LLC’s holdings in Ameriprise Financial were worth $466,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. PGGM Investments increased its holdings in Ameriprise Financial by 2.2% during the first quarter. PGGM Investments now owns 28,015 shares of the financial services provider’s stock worth $12,283,000 after buying an additional 598 shares during the last quarter. Burney Co. increased its holdings in Ameriprise Financial by 9.1% during the first quarter. Burney Co. now owns 9,037 shares of the financial services provider’s stock worth $3,962,000 after buying an additional 756 shares during the last quarter. Atria Investments Inc increased its holdings in Ameriprise Financial by 5.1% during the first quarter. Atria Investments Inc now owns 14,859 shares of the financial services provider’s stock worth $6,497,000 after buying an additional 725 shares during the last quarter. Swedbank AB purchased a new stake in Ameriprise Financial during the first quarter worth about $108,938,000. Finally, LRI Investments LLC purchased a new stake in Ameriprise Financial during the first quarter worth about $276,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMP shares. Argus raised their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, May 6th. 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 research note on Tuesday, July 9th. Piper Sandler reduced their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group lifted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $464.33.

Ameriprise Financial Price Performance

Shares of AMP stock traded down $15.75 during trading hours on Friday, reaching $402.61. The stock had a trading volume of 679,597 shares, compared to its average volume of 551,653. The stock’s fifty day simple moving average is $430.64 and its 200 day simple moving average is $419.26. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $449.94. The firm has a market capitalization of $39.99 billion, a PE ratio of 13.70, a PEG ratio of 0.73 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS 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 73.83%. The company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the business earned $7.44 earnings per share. Ameriprise Financial’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 34.77 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.47%. Ameriprise Financial’s payout ratio is presently 20.15%.

Insider Buying and Selling at Ameriprise Financial

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

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.