Ameriprise Financial, Inc. (NYSE:AMP) Position Trimmed by Gradient Investments LLC

Gradient Investments LLC reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 5.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 37,322 shares of the financial services provider’s stock after selling 2,167 shares during the period. Gradient Investments LLC’s holdings in Ameriprise Financial were worth $15,944,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Blue Trust Inc. increased its stake in shares of Ameriprise Financial by 215.7% in the second quarter. Blue Trust Inc. now owns 1,585 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 1,083 shares during the period. Portside Wealth Group LLC raised its stake in shares of Ameriprise Financial by 3.7% during the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 25 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Ameriprise Financial by 390.2% in the second quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock worth $24,375,000 after purchasing an additional 45,420 shares during the period. Montecito Bank & Trust raised its position in shares of Ameriprise Financial by 4.4% during the 2nd quarter. Montecito Bank & Trust now owns 3,883 shares of the financial services provider’s stock worth $1,659,000 after buying an additional 163 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in shares of Ameriprise Financial by 10.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 100,643 shares of the financial services provider’s stock worth $42,994,000 after acquiring an additional 9,153 shares during the period. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AMP. Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. UBS Group decreased 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. Keefe, Bruyette & Woods cut their price objective 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. Morgan Stanley reduced their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Finally, Jefferies Financial Group boosted their price target on shares of 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 given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Stock Up 1.7 %

AMP stock traded up $7.32 during midday trading on Friday, reaching $431.39. The company had a trading volume of 570,515 shares, compared to its average volume of 489,872. The company has a 50 day moving average of $425.98 and a two-hundred day moving average of $420.86. 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 1 year low of $306.63 and a 1 year high of $449.94. The company has a market capitalization of $42.85 billion, a P/E ratio of 14.68, a PEG ratio of 0.73 and a beta of 1.37.

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

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued 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 1.37%. Ameriprise Financial’s payout ratio is 20.15%.

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.