Securian Asset Management Inc. Trims Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Securian Asset Management Inc. trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,770 shares of the financial services provider’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Ameriprise Financial were worth $2,465,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Retirement Group LLC bought a new stake in Ameriprise Financial in the 1st quarter worth about $25,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the 1st quarter valued at $28,000. Bank & Trust Co bought a new position in shares of Ameriprise Financial during the 2nd quarter valued at $29,000. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial during the first quarter valued at approximately $32,000. Finally, Annapolis Financial Services LLC grew its stake in Ameriprise Financial by 928.6% during the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 65 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s 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 sale, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the topic of several research analyst reports. 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 research report on Tuesday, July 30th. UBS Group decreased their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Morgan Stanley dropped their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Jefferies Financial Group boosted their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Piper Sandler lowered 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 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’s stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $464.33.

Ameriprise Financial Trading Down 0.4 %

NYSE:AMP traded down $1.76 during trading hours on Monday, hitting $403.23. The company had a trading volume of 244,806 shares, compared to its average volume of 488,739. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $449.94. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. The company has a 50-day moving average of $426.92 and a 200 day moving average of $420.36. The company has a market cap of $40.05 billion, a P/E ratio of 13.72, a P/E/G 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.19. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. Ameriprise Financial’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $7.44 earnings per share. Sell-side analysts expect that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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