Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Gradient Investments LLC

Gradient Investments LLC decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,322 shares of the financial services provider’s stock after selling 2,167 shares during the quarter. Gradient Investments LLC’s holdings in Ameriprise Financial were worth $15,944,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AMP. Louisiana State Employees Retirement System acquired a new position in Ameriprise Financial in the 4th quarter valued at about $2,317,000. Mackenzie Financial Corp raised its stake in shares of Ameriprise Financial by 0.6% in the 4th quarter. Mackenzie Financial Corp now owns 10,114 shares of the financial services provider’s stock valued at $3,842,000 after purchasing an additional 62 shares in the last quarter. Flputnam Investment Management Co. lifted its holdings in Ameriprise Financial by 0.9% during the 4th quarter. Flputnam Investment Management Co. now owns 6,228 shares of the financial services provider’s stock worth $2,366,000 after buying an additional 57 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ameriprise Financial by 2.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,515 shares of the financial services provider’s stock worth $14,629,000 after purchasing an additional 888 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of Ameriprise Financial by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 9,264 shares of the financial services provider’s stock valued at $3,519,000 after buying an additional 662 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AMP shares. Keefe, Bruyette & Woods decreased 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. Argus upped their target price on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Piper Sandler reduced their price objective 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. Morgan Stanley lowered their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Finally, UBS Group cut their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. One research 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $464.33.

Ameriprise Financial Trading Up 1.7 %

Shares of AMP stock traded up $7.32 during mid-day trading on Friday, hitting $431.39. The company’s stock had a trading volume of 570,515 shares, compared to its average volume of 489,872. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $449.94. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.59. The company’s fifty day simple moving average is $425.98 and its 200-day simple moving average is $420.86. The company has a market cap of $42.85 billion, a PE ratio of 14.68, a P/E/G ratio of 0.73 and a beta of 1.37.

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 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 previous year, the firm earned $7.44 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.37%. Ameriprise Financial’s dividend payout ratio 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.